Charles K. Cohn Purchases 746,335 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 746,335 shares of Nerdy stock in a transaction on Wednesday, November 20th. The stock was purchased at an average cost of $1.23 per share, with a total value of $917,992.05. Following the completion of the transaction, the chief executive officer now directly owns 24,223,884 shares in the company, valued at $29,795,377.32. This represents a 3.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Nerdy Trading Up 6.1 %

NRDY opened at $1.40 on Monday. The business’s 50-day moving average price is $0.99 and its 200-day moving average price is $1.34. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.60. The company has a market cap of $252.53 million, a P/E ratio of -4.12 and a beta of 1.68.

Institutional Trading of Nerdy

A number of institutional investors have recently made changes to their positions in NRDY. Millennium Management LLC grew its stake in shares of Nerdy by 382.0% in the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after purchasing an additional 1,486,910 shares during the last quarter. Ritholtz Wealth Management purchased a new position in Nerdy during the third quarter valued at $867,000. Greenvale Capital LLP boosted its stake in Nerdy by 6.0% during the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after acquiring an additional 509,004 shares in the last quarter. Clearline Capital LP increased its stake in shares of Nerdy by 34.3% during the second quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock valued at $3,084,000 after purchasing an additional 471,603 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Nerdy by 12.9% during the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock valued at $3,274,000 after purchasing an additional 224,049 shares in the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Analysts Set New Price Targets

NRDY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Barclays decreased their price target on Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Northland Capmk downgraded Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $3.00 target price (down from $5.00) on shares of Nerdy in a research report on Friday, August 9th. 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.