Insider Buying: Nerdy, Inc. (NYSE:NRDY) CEO Acquires 746,335 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn bought 746,335 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $1.23 per share, with a total value of $917,992.05. Following the completion of the acquisition, the chief executive officer now owns 24,223,884 shares of the company’s stock, 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 is available through this link.

Nerdy Stock Up 6.4 %

Shares of NRDY stock opened at $1.41 on Friday. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60. The company has a 50 day moving average price of $0.99 and a 200 day moving average price of $1.36.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NRDY. Canaccord Genuity Group downgraded Nerdy from a “buy” rating to a “hold” rating and cut their price target for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and issued a $2.00 target price on shares of Nerdy in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. One investment 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Nerdy by 330.4% during the 3rd quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after purchasing an additional 79,808 shares during the period. Geode Capital Management LLC raised its holdings in shares of Nerdy by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock valued at $1,690,000 after buying an additional 145,575 shares during the period. State Street Corp lifted its position in Nerdy by 0.9% during the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after acquiring an additional 11,721 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in Nerdy in the third quarter valued at approximately $138,000. Finally, AM Investment Strategies LLC purchased a new stake in shares of Nerdy during the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

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.