Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn Buys 300,000 Shares

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 300,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $1.44 per share, with a total value of $432,000.00. Following the completion of the purchase, the chief executive officer now owns 25,082,433 shares of the company’s stock, valued at $36,118,703.52. This trade represents a 1.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nerdy Trading Down 6.1 %

Nerdy stock opened at $1.38 on Thursday. The stock has a 50 day moving average of $1.01 and a 200-day moving average of $1.33. The stock has a market cap of $248.92 million, a P/E ratio of -4.06 and a beta of 1.68. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $3.60.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Nerdy by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock worth $4,224,000 after purchasing an additional 79,624 shares during the last quarter. Barclays PLC grew its stake in Nerdy by 330.4% in the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after purchasing an additional 79,808 shares in the last quarter. Geode Capital Management LLC grew its stake in Nerdy by 9.3% in the third quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock worth $1,690,000 after purchasing an additional 145,575 shares in the last quarter. State Street Corp increased its holdings in Nerdy by 0.9% in the third quarter. State Street Corp now owns 1,253,663 shares of the company’s stock valued at $1,232,000 after buying an additional 11,721 shares during the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in Nerdy during the third quarter valued at approximately $138,000. 39.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NRDY has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 price target on shares of Nerdy in a research report on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Barclays lowered their price objective on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, Northland Securities reduced their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Nerdy presently has a consensus rating of “Hold” and an average price target of $2.86.

About Nerdy

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.