Nerdy, Inc. (NYSE:NRDY) CEO Buys $657,207.32 in Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 426,758 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was purchased at an average cost of $1.54 per share, with a total value of $657,207.32. Following the purchase, the chief executive officer now owns 25,509,191 shares of the company’s stock, valued at $39,284,154.14. The trade was a 1.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Nerdy Stock Up 4.3 %

Shares of NRDY stock opened at $1.71 on Wednesday. The firm has a market cap of $308.45 million, a price-to-earnings ratio of -5.03 and a beta of 2.00. The company’s 50 day moving average is $1.12 and its 200 day moving average is $1.30. Nerdy, Inc. has a 52-week low of $0.73 and a 52-week high of $3.60.

Analysts Set New Price Targets

Several brokerages have issued reports on NRDY. Cantor Fitzgerald reissued a “neutral” rating and issued a $1.00 price objective (down previously from $6.00) on shares of Nerdy in a research note on Friday, November 8th. Northland Securities reduced their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research report on Friday, November 8th. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research report 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 report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Nerdy presently has a consensus rating of “Hold” and a consensus price target of $2.86.

Hedge Funds Weigh In On Nerdy

Several institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in Nerdy by 11.6% in the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after acquiring an additional 8,834 shares in the last quarter. State Street Corp lifted its stake in shares of Nerdy by 0.9% during the third quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after buying an additional 11,721 shares during the period. nVerses Capital LLC acquired a new stake in shares of Nerdy during the second quarter worth $34,000. SG Americas Securities LLC acquired a new stake in shares of Nerdy during the third quarter worth $29,000. Finally, AM Investment Strategies LLC acquired a new position in Nerdy during the third quarter valued at $29,000. 39.10% of the stock is 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.