Insider Buying: Nerdy, Inc. (NYSE:NRDY) CEO Acquires 300,000 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 300,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $1.61 per share, with a total value of $483,000.00. Following the purchase, the chief executive officer now owns 850,333 shares of the company’s stock, valued at approximately $1,369,036.13. The trade was a 54.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Nerdy Price Performance

Shares of NRDY opened at $1.91 on Tuesday. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.60. The stock has a fifty day moving average price of $1.18 and a 200 day moving average price of $1.30. The company has a market cap of $344.53 million, a P/E ratio of -5.62 and a beta of 2.00.

Analyst Ratings Changes

Several research firms have recently weighed in on NRDY. 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. JMP Securities reissued a “market perform” rating on shares of Nerdy in a report on Friday, November 8th. Cantor Fitzgerald restated 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. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Finally, Northland Securities dropped their price target on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.86.

Hedge Funds Weigh In On Nerdy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC lifted its position in Nerdy by 382.0% in the 2nd 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 bought a new stake in shares of Nerdy during the third quarter valued at approximately $867,000. Greenvale Capital LLP boosted its position in shares of Nerdy by 6.0% during the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after buying an additional 509,004 shares during the period. Clearline Capital LP grew its holdings in Nerdy by 34.3% in the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock worth $3,084,000 after buying an additional 471,603 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Nerdy by 12.9% in the 2nd quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after buying an additional 224,049 shares in the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

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.