Nerdy, Inc. (NYSE:NRDY) CEO Acquires $534,000.00 in Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn bought 300,000 shares of Nerdy stock in a transaction that occurred on Monday, December 9th. The stock was bought at an average cost of $1.78 per share, for a total transaction of $534,000.00. Following the purchase, the chief executive officer now owns 700,333 shares in the company, valued at $1,246,592.74. This represents a 74.94 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Nerdy Stock Down 5.9 %

Shares of Nerdy stock traded down $0.10 on Wednesday, hitting $1.60. 2,373,760 shares of the company’s stock traded hands, compared to its average volume of 1,721,352. Nerdy, Inc. has a 52-week low of $0.73 and a 52-week high of $3.60. The stock has a market cap of $288.60 million, a P/E ratio of -5.03 and a beta of 2.00. The firm’s 50-day moving average is $1.12 and its 200 day moving average is $1.30.

Institutional Trading of Nerdy

Several institutional investors and hedge funds have recently bought and sold shares of NRDY. SG Americas Securities LLC acquired a new stake in shares of Nerdy during the third quarter worth $29,000. AM Investment Strategies LLC acquired a new position in shares of Nerdy in the 3rd quarter valued at about $29,000. nVerses Capital LLC bought a new stake in shares of Nerdy during the 2nd quarter valued at about $34,000. Barclays PLC raised its stake in Nerdy by 330.4% during the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after acquiring an additional 79,808 shares during the period. Finally, Citizens Financial Group Inc. RI bought a new position in Nerdy in the third quarter worth about $138,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

Analysts Set New Price Targets

NRDY has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Nerdy in a research note on Friday, November 8th. 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. Northland Securities decreased their price target on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company 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. Finally, JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, 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.