Charles K. Cohn Purchases 746,335 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 746,335 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $1.23 per share, for a total transaction of $917,992.05. Following the acquisition, the chief executive officer now directly owns 24,223,884 shares in the company, valued at $29,795,377.32. This trade represents a 3.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nerdy Stock Performance

NYSE:NRDY opened at $1.40 on Friday. The firm has a market capitalization of $252.53 million, a price-to-earnings ratio of -4.12 and a beta of 1.68. The stock has a fifty day moving average of $0.99 and a 200 day moving average of $1.35. Nerdy, Inc. has a 52-week low of $0.73 and a 52-week high of $3.60.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NRDY. Millennium Management LLC lifted its position in Nerdy by 382.0% during the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock valued at $3,133,000 after purchasing an additional 1,486,910 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Nerdy during the 3rd quarter valued at $867,000. Greenvale Capital LLP lifted its holdings in shares of Nerdy by 6.0% during the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after acquiring an additional 509,004 shares during the last quarter. Clearline Capital LP grew its position in Nerdy by 34.3% in the second 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 in the last quarter. Finally, Marshall Wace LLP increased its stake in Nerdy by 12.9% in the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock valued at $3,274,000 after acquiring an additional 224,049 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $2.00 target price on shares of Nerdy in a research report on Friday, November 8th. Canaccord Genuity Group cut Nerdy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Canaccord Genuity Group reiterated a “hold” rating and issued a $3.00 target price (down previously from $5.00) on shares of Nerdy in a research note on Friday, August 9th. Northland Securities dropped their price target on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Finally, Northland Capmk cut shares of Nerdy from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.