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

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 300,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was bought at an average cost of $1.78 per share, for a total transaction of $534,000.00. Following the completion of the purchase, the chief executive officer now directly owns 700,333 shares in the company, valued at $1,246,592.74. This represents a 74.94 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Nerdy Trading Up 8.4 %

Nerdy stock opened at $1.74 on Friday. The company has a 50-day moving average price of $1.16 and a 200 day moving average price of $1.30. Nerdy, Inc. has a 12-month low of $0.73 and a 12-month high of $3.60. The stock has a market cap of $312.96 million, a P/E ratio of -5.10 and a beta of 2.00.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. 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. Northland Securities reduced their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 target price on shares of Nerdy in a research note on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Nerdy presently has an average rating of “Hold” and a consensus target price of $2.86.

Institutional Trading of Nerdy

A number of hedge funds and other institutional investors have recently made changes to their positions in NRDY. Franklin Resources Inc. lifted its holdings in Nerdy by 2.0% in the third quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock valued at $4,224,000 after acquiring an additional 79,624 shares during the last quarter. Barclays PLC lifted its stake in shares of Nerdy by 330.4% in the 3rd quarter. Barclays PLC now owns 103,960 shares of the company’s stock valued at $102,000 after purchasing an additional 79,808 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Nerdy by 9.3% during the 3rd 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 during the period. State Street Corp grew its holdings in shares of Nerdy by 0.9% during the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after purchasing an additional 11,721 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Nerdy during the 3rd quarter worth about $138,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

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.