Nerdy, Inc. (NYSE:NRDY) CEO Buys $432,000.00 in Stock

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

Nerdy Stock Down 6.1 %

Shares of NYSE NRDY traded down $0.09 during mid-day trading on Wednesday, hitting $1.38. 1,157,137 shares of the company traded hands, compared to its average volume of 1,670,422. Nerdy, Inc. has a 1 year low of $0.73 and a 1 year high of $3.60. The stock has a market capitalization of $248.92 million, a price-to-earnings ratio of -4.06 and a beta of 1.68. The business has a 50 day moving average of $1.01 and a two-hundred day moving average of $1.33.

Institutional Investors Weigh In On Nerdy

Several hedge funds have recently bought and sold shares of NRDY. Millennium Management LLC lifted its stake in Nerdy by 382.0% in the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after acquiring an additional 1,486,910 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Nerdy during the 3rd quarter worth about $867,000. Greenvale Capital LLP raised 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 worth $15,030,000 after purchasing an additional 509,004 shares in the last quarter. Clearline Capital LP raised its stake in shares of Nerdy by 34.3% during the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock worth $3,084,000 after purchasing an additional 471,603 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Nerdy by 12.9% during the 2nd 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 in the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NRDY. JPMorgan Chase & Co. cut Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Northland Securities decreased their target price on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, November 8th. Barclays decreased their target price on Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $3.00 target price (down previously from $5.00) on shares of Nerdy in a research note on Friday, August 9th. Finally, JMP Securities reaffirmed 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 assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Nerdy presently has an average 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.