Charles K. Cohn Acquires 300,000 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $1.61 per share, with a total value of $483,000.00. Following the acquisition, the chief executive officer now owns 850,333 shares in the company, valued at $1,369,036.13. The trade was a 54.51 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nerdy Stock Down 3.2 %

NYSE:NRDY opened at $1.84 on Wednesday. The stock has a market cap of $331.90 million, a P/E ratio of -5.41 and a beta of 2.00. The business’s 50-day moving average price is $1.19 and its two-hundred day moving average price is $1.30. Nerdy, Inc. has a twelve month low of $0.73 and a twelve month high of $3.60.

Institutional Investors Weigh In On Nerdy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Greenvale Capital LLP grew its stake in Nerdy by 6.0% in the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after buying an additional 509,004 shares in the last quarter. Franklin Resources Inc. grew its position in Nerdy by 2.0% in the third quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock worth $4,224,000 after acquiring an additional 79,624 shares in the last quarter. Marshall Wace LLP increased its stake in Nerdy by 12.9% in the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock valued at $3,274,000 after acquiring an additional 224,049 shares during the last quarter. Millennium Management LLC raised its position in Nerdy by 382.0% during the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock valued at $3,133,000 after purchasing an additional 1,486,910 shares in the last quarter. Finally, Clearline Capital LP raised its position in Nerdy by 34.3% during the second quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock valued at $3,084,000 after purchasing an additional 471,603 shares in the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NRDY. Northland Securities reduced their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $1.00 target price (down previously from $6.00) on shares of Nerdy in a report on Friday, November 8th. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective on shares of Nerdy in a research note on Friday, November 8th. Finally, JMP Securities restated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Nerdy currently has a consensus rating of “Hold” and an average price target of $2.86.

Nerdy Company Profile

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals, delivering value on both sides of the network.