Nerdy, Inc. (NYSE:NRDY) CEO Buys $780,174.08 in Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn bought 796,096 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $0.98 per share, with a total value of $780,174.08. Following the completion of the purchase, the chief executive officer now directly owns 21,976,049 shares in the company, valued at $21,536,528.02. This represents a 3.76 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nerdy Price Performance

Shares of NRDY remained flat at $1.26 during mid-day trading on Wednesday. 2,515,189 shares of the stock traded hands, compared to its average volume of 1,654,936. Nerdy, Inc. has a twelve month low of $0.73 and a twelve month high of $3.60. The business has a 50 day simple moving average of $0.97 and a 200-day simple moving average of $1.37. The stock has a market capitalization of $227.28 million, a PE ratio of -3.71 and a beta of 1.68.

Hedge Funds Weigh In On Nerdy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management bought a new position in shares of Nerdy in the 3rd quarter valued at about $867,000. Vanguard Group Inc. boosted its holdings in Nerdy by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after purchasing an additional 88,771 shares during the period. Greenvale Capital LLP raised its position in shares of Nerdy by 6.0% in the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after buying an additional 509,004 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Nerdy in the 3rd quarter valued at approximately $29,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Nerdy by 286.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock valued at $434,000 after buying an additional 192,635 shares in the last quarter. 39.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $2.00 price target on shares of Nerdy in a report on Friday, November 8th. Canaccord Genuity Group restated a “hold” rating and issued a $3.00 price target (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Raymond James downgraded Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group cut Nerdy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $5.00 to $3.00 in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.