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

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 300,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $1.61 per share, with a total value of $483,000.00. Following the purchase, the chief executive officer now directly owns 850,333 shares in the company, valued at $1,369,036.13. This represents a 54.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Nerdy Stock Down 3.2 %

Shares of NRDY stock opened at $1.84 on Wednesday. The firm has a market capitalization of $331.90 million, a price-to-earnings ratio of -5.41 and a beta of 2.00. The stock has a fifty day moving average of $1.19 and a 200 day moving average of $1.30. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $3.60.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NRDY shares. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Northland Securities lowered 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. Cantor Fitzgerald restated a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $2.00 price objective on shares of Nerdy 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.86.

Institutional Investors Weigh In On Nerdy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in Nerdy by 28.5% in the second quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock worth $437,000 after buying an additional 58,152 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Nerdy in the 2nd quarter worth approximately $34,000. ACR Alpine Capital Research LLC lifted its stake in shares of Nerdy by 4.1% in the 2nd 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 period. Rhumbline Advisers boosted its position in shares of Nerdy by 11.6% during the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after purchasing an additional 8,834 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in Nerdy by 1,064.9% in the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock worth $307,000 after purchasing an additional 168,206 shares during the period. 39.10% of the stock is owned by hedge funds and other institutional investors.

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.