Charles K. Cohn Acquires 300,000 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 300,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $1.61 per share, with a total value of $483,000.00. Following the transaction, the chief executive officer now directly owns 850,333 shares of the company’s stock, valued at $1,369,036.13. This represents a 54.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Nerdy Trading Down 7.6 %

Shares of NRDY opened at $1.71 on Thursday. The company’s fifty day simple moving average is $1.21 and its 200 day simple moving average is $1.30. Nerdy, Inc. has a 1-year low of $0.73 and a 1-year high of $3.60. The company has a market cap of $308.45 million, a price-to-earnings ratio of -5.03 and a beta of 2.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in Nerdy by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock valued at $4,224,000 after purchasing an additional 79,624 shares during the last quarter. Barclays PLC raised its stake in Nerdy by 330.4% in the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock valued at $102,000 after buying an additional 79,808 shares during the period. Geode Capital Management LLC lifted its position in shares of Nerdy by 9.3% in the third 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 last quarter. State Street Corp boosted its stake in shares of 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 during the period. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Nerdy during the 3rd quarter worth approximately $138,000. Institutional investors own 39.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NRDY shares. Northland Securities reduced their target price on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. JMP Securities reissued a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 price target on shares of Nerdy in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $1.00 price objective (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 assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.86.

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.