Charles K. Cohn Buys 208,726 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn acquired 208,726 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $181,591.62. Following the completion of the purchase, the chief executive officer now directly owns 21,157,650 shares in the company, valued at $18,407,155.50. This represents a 1.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Nerdy Price Performance

Shares of NRDY stock opened at $1.26 on Wednesday. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60. The stock has a fifty day moving average price of $0.97 and a 200 day moving average price of $1.37. The stock has a market cap of $227.28 million, a P/E ratio of -3.71 and a beta of 1.68.

Hedge Funds Weigh In On Nerdy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Nerdy by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after purchasing an additional 88,771 shares during the period. Bayesian Capital Management LP bought a new stake in Nerdy in the first quarter valued at $101,000. Bank of New York Mellon Corp grew its position in Nerdy by 28.5% in the second quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock valued at $437,000 after acquiring an additional 58,152 shares during the period. nVerses Capital LLC acquired a new position in Nerdy during the second quarter worth $34,000. Finally, ACR Alpine Capital Research LLC lifted its holdings in shares of Nerdy by 4.1% during the second quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock valued at $1,656,000 after acquiring an additional 39,270 shares during the period. 39.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Canaccord Genuity Group reiterated a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Canaccord Genuity Group downgraded shares of Nerdy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $5.00 to $3.00 in a report on Friday, August 9th. Barclays decreased their price target on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Northland Capmk lowered Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. downgraded Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. One equities research 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’s stock. Based on data from MarketBeat, the company presently has an average 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.