Nerdy, Inc. (NYSE:NRDY) CEO Buys $3,980,000.00 in Stock

Nerdy, Inc. (NYSE:NRDY - Get Free Report) CEO Charles K. Cohn acquired 2,000,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $1.99 per share, with a total value of $3,980,000.00. Following the purchase, the chief executive officer now owns 30,509,191 shares in the company, valued at approximately $60,713,290.09. The trade was a 7.02 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Nerdy Stock Down 3.2 %

NRDY traded down $0.06 on Tuesday, hitting $1.84. The company's stock had a trading volume of 2,373,754 shares, compared to its average volume of 1,786,155. The company's 50 day simple moving average is $1.19 and its 200-day simple moving average is $1.30. The firm has a market cap of $331.90 million, a P/E ratio of -5.41 and a beta of 2.00. Nerdy, Inc. has a 12 month low of $0.73 and a 12 month high of $3.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC bought a new position in Nerdy in the 2nd quarter worth approximately $34,000. SG Americas Securities LLC bought a new position in Nerdy in the 3rd quarter worth approximately $29,000. AM Investment Strategies LLC bought a new position in Nerdy in the 3rd quarter worth approximately $29,000. Rhumbline Advisers boosted its holdings in Nerdy by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company's stock worth $142,000 after buying an additional 8,834 shares during the period. Finally, Barclays PLC boosted its holdings in Nerdy by 330.4% in the 3rd quarter. Barclays PLC now owns 103,960 shares of the company's stock valued at $102,000 after purchasing an additional 79,808 shares during the period. 39.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NRDY shares. Northland Securities decreased their price objective 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. lowered shares of Nerdy from a "neutral" rating to an "underweight" rating in a research note on Monday, November 11th. Needham & Company LLC restated a "buy" rating and set a $2.00 price target on shares of Nerdy in a research note on Friday, November 8th. JMP Securities restated a "market perform" rating on shares of Nerdy in a research note on Friday, November 8th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $1.00 price target (down previously from $6.00) on shares of Nerdy in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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.