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

Nerdy, Inc. (NYSE:NRDY - Get Free Report) CEO Charles K. Cohn purchased 746,335 shares of the stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $1.23 per share, with a total value of $917,992.05. Following the completion of the purchase, the chief executive officer now owns 24,223,884 shares in the company, valued at $29,795,377.32. The trade was a 3.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nerdy Trading Up 6.4 %

NRDY traded up $0.08 during midday trading on Friday, reaching $1.41. The company's stock had a trading volume of 3,588,914 shares, compared to its average volume of 1,663,295. The stock's 50-day moving average is $0.99 and its 200-day moving average is $1.37. Nerdy, Inc. has a 1 year low of $0.73 and a 1 year high of $3.60. The firm has a market capitalization of $253.43 million, a price-to-earnings ratio of -3.87 and a beta of 1.68.

Institutional Investors Weigh In On Nerdy

Several large investors have recently bought and sold shares of NRDY. nVerses Capital LLC purchased a new stake in Nerdy during the second quarter valued at $34,000. SG Americas Securities LLC bought a new stake in Nerdy during the third quarter valued at about $29,000. AM Investment Strategies LLC bought a new position in shares of Nerdy in the third quarter worth about $29,000. Bayesian Capital Management LP purchased a new position in Nerdy in the 1st quarter worth approximately $101,000. Finally, Rhumbline Advisers increased its holdings in Nerdy by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company's stock valued at $142,000 after acquiring an additional 8,834 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NRDY has been the topic of several research reports. Barclays decreased their price objective on shares of Nerdy from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. downgraded shares of Nerdy from a "neutral" rating to an "underweight" rating in a research note on Monday, November 11th. Raymond James lowered shares of Nerdy from an "outperform" rating to a "market perform" rating in a report on Friday, August 9th. 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 report on Friday, August 9th. Finally, Canaccord Genuity Group downgraded Nerdy from a "buy" rating to a "hold" rating and lowered their target price for the stock from $5.00 to $3.00 in a 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 has an average rating of "Hold" and an average target price 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.

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