Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn Acquires 208,726 Shares

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn bought 208,726 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $0.87 per share, with a total value of $181,591.62. Following the completion of the transaction, the chief executive officer now owns 21,157,650 shares in the company, valued at approximately $18,407,155.50. This trade represents a 1.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Nerdy Stock Up 5.1 %

NYSE:NRDY traded up $0.05 on Monday, hitting $1.01. The stock had a trading volume of 2,591,460 shares, compared to its average volume of 1,629,564. The business’s 50-day simple moving average is $0.96 and its two-hundred day simple moving average is $1.39. The stock has a market cap of $178.94 million, a price-to-earnings ratio of -2.81 and a beta of 1.68. Nerdy, Inc. has a 52-week low of $0.73 and a 52-week high of $3.60.

Hedge Funds 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 shares of Nerdy by 6.0% during the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after acquiring an additional 509,004 shares during the period. Vanguard Group Inc. increased its holdings in shares of Nerdy by 2.9% in the first quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock worth $9,025,000 after purchasing an additional 88,771 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Nerdy by 12.9% in the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after purchasing an additional 224,049 shares during the last quarter. Millennium Management LLC lifted its position in shares of Nerdy by 382.0% in the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after buying an additional 1,486,910 shares in the last quarter. Finally, Clearline Capital LP boosted its stake 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 buying an additional 471,603 shares during the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NRDY. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $3.00 price target (down from $5.00) on shares of Nerdy in a research note on Friday, August 9th. Barclays lowered their price target 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. Northland Capmk lowered Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Northland Securities cut their target price on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Nerdy currently has an average 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.