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

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 208,726 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $181,591.62. Following the purchase, the chief executive officer now directly owns 21,157,650 shares in the company, valued at $18,407,155.50. The trade was a 1.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nerdy Price Performance

Shares of NRDY stock opened at $1.01 on Tuesday. The business’s fifty day moving average price is $0.96 and its 200 day moving average price is $1.38. The firm has a market capitalization of $178.94 million, a PE ratio of -2.96 and a beta of 1.68. Nerdy, Inc. has a 1-year low of $0.73 and a 1-year high of $3.60.

Hedge Funds Weigh In On Nerdy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Nerdy by 2.9% during the first quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock worth $9,025,000 after buying an additional 88,771 shares during the period. Bayesian Capital Management LP purchased a new position in Nerdy in the 1st quarter valued at approximately $101,000. Bank of New York Mellon Corp raised its holdings in Nerdy by 28.5% during the second quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock worth $437,000 after purchasing an additional 58,152 shares during the last quarter. nVerses Capital LLC purchased a new stake in Nerdy during the second quarter worth $34,000. Finally, ACR Alpine Capital Research LLC grew its holdings in Nerdy by 4.1% in the second quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock valued at $1,656,000 after purchasing an additional 39,270 shares during the last quarter. 39.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $1.00 price objective (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. Raymond James downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and reduced their target price for the company from $5.00 to $3.00 in a report on Friday, August 9th. Canaccord Genuity Group reissued a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Finally, 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. One 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.