Charles K. Cohn Purchases 796,096 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

by · The Cerbat Gem

Nerdy, Inc. (NYSE:NRDY – Get Free Report) CEO Charles K. Cohn purchased 796,096 shares of the stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $0.98 per share, with a total value of $780,174.08. Following the completion of the acquisition, the chief executive officer now directly owns 21,976,049 shares of the company’s stock, valued at approximately $21,536,528.02. This represents a 3.76 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nerdy Stock Up 5.2 %

NYSE:NRDY opened at $1.32 on Friday. The company’s 50 day moving average price is $0.99 and its 200-day moving average price is $1.37. Nerdy, Inc. has a 52 week low of $0.73 and a 52 week high of $3.60. The stock has a market cap of $237.20 million, a price-to-earnings ratio of -3.87 and a beta of 1.68.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NRDY shares. Needham & Company LLC restated a “buy” rating and set a $2.00 price objective on shares of Nerdy in a research report on Friday, November 8th. Canaccord Genuity Group reissued a “hold” rating and set a $3.00 target price (down previously from $5.00) on shares of Nerdy in a research note on Friday, August 9th. Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $1.00 price objective (down previously from $6.00) on shares of Nerdy in a research note on Friday, November 8th. Finally, Northland Capmk downgraded shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. 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. Based on data from MarketBeat.com, Nerdy presently has a consensus rating of “Hold” and a consensus target price of $2.86.

View Our Latest Stock Report on NRDY

Hedge Funds Weigh In On Nerdy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Greenvale Capital LLP increased its stake in shares of Nerdy by 6.0% in the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after purchasing an additional 509,004 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Nerdy by 2.9% during 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 last quarter. Marshall Wace LLP raised its stake in shares of 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 period. Millennium Management LLC lifted its stake in Nerdy by 382.0% in the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after purchasing an additional 1,486,910 shares during the last quarter. Finally, Clearline Capital LP boosted its stake in shares of Nerdy by 34.3% during the second quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock valued at $3,084,000 after purchasing an additional 471,603 shares during the period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

About Nerdy

(Get Free Report)

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.

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