Nerdy, Inc. (NYSE:NRDY) CEO Acquires $3,980,000.00 in Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 2,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $1.99 per share, for a total transaction of $3,980,000.00. Following the completion of the purchase, the chief executive officer now directly owns 30,509,191 shares of the company’s stock, valued at approximately $60,713,290.09. This represents a 7.02 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nerdy Stock Down 3.2 %

Shares of Nerdy stock opened at $1.84 on Wednesday. The company has a market cap of $331.90 million, a PE ratio of -5.41 and a beta of 2.00. The business has a 50 day moving average of $1.19 and a 200 day moving average of $1.30. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $3.60.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NRDY. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Northland Securities cut their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $2.00 price target on shares of Nerdy in a report 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’s stock. Based on data from MarketBeat.com, Nerdy presently has a consensus rating of “Hold” and an average target price of $2.86.

Institutional Trading of Nerdy

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Nerdy during the third quarter valued at approximately $29,000. AM Investment Strategies LLC purchased a new position in Nerdy during the third quarter valued at $29,000. nVerses Capital LLC bought a new stake in shares of Nerdy during the 2nd quarter valued at $34,000. Barclays PLC grew its position in shares of Nerdy by 330.4% in the 3rd quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after buying an additional 79,808 shares during the period. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Nerdy in the 3rd quarter worth about $138,000. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

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.