Charles K. Cohn Buys 8,338,206 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 8,338,206 shares of Nerdy stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $0.90 per share, with a total value of $7,504,385.40. Following the completion of the purchase, the chief executive officer now directly owns 20,948,924 shares of the company’s stock, valued at approximately $18,854,031.60. This represents a 66.12 % 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 Performance

Shares of NYSE NRDY opened at $0.96 on Friday. The business has a 50 day simple moving average of $0.96 and a 200 day simple moving average of $1.40. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $3.60. The stock has a market cap of $170.19 million, a price-to-earnings ratio of -2.81 and a beta of 1.68.

Institutional Trading of Nerdy

Large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in shares of Nerdy in the 2nd quarter valued at $34,000. SG Americas Securities LLC bought a new position in Nerdy during the third quarter valued at about $29,000. AM Investment Strategies LLC acquired a new stake in shares of Nerdy in the third quarter worth about $29,000. Bayesian Capital Management LP bought a new stake in shares of Nerdy during the 1st quarter worth about $101,000. Finally, Rhumbline Advisers increased its holdings in shares of Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after acquiring an additional 8,834 shares during the last quarter. 39.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NRDY has been the subject of several research analyst reports. Raymond James downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Northland Capmk lowered Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Finally, Barclays dropped their target price on Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.