Charles K. Cohn Acquires 2,000,000 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn bought 2,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were bought at an average price of $1.99 per share, for a total transaction of $3,980,000.00. Following the completion of the acquisition, the chief executive officer now owns 30,509,191 shares of the company’s stock, valued at approximately $60,713,290.09. This represents a 7.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Nerdy Stock Up 5.3 %

Nerdy stock traded up $0.10 during trading hours on Tuesday, hitting $2.00. The stock had a trading volume of 685,746 shares, compared to its average volume of 1,778,363. Nerdy, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $3.60. The company has a market cap of $360.76 million, a PE ratio of -5.62 and a beta of 2.00. The company has a 50-day moving average of $1.18 and a two-hundred day moving average of $1.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NRDY. Greenvale Capital LLP raised its stake 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. Franklin Resources Inc. increased its stake in Nerdy by 2.0% in the third quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock valued at $4,224,000 after acquiring an additional 79,624 shares during the period. Marshall Wace LLP raised its position in Nerdy by 12.9% in the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after purchasing an additional 224,049 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Nerdy by 382.0% in the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after buying an additional 1,486,910 shares in the last quarter. Finally, Clearline Capital LP grew its position in Nerdy by 34.3% during the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock worth $3,084,000 after acquiring an additional 471,603 shares during the last quarter. 39.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NRDY. JMP Securities reissued a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 price objective on shares of Nerdy in a report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $1.00 target price (down previously from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Finally, Northland Securities cut their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Nerdy has an average rating of “Hold” and an average 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.