Insider Buying: Nerdy, Inc. (NYSE:NRDY) CEO Purchases 39,629 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 39,629 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average cost of $1.51 per share, with a total value of $59,839.79. Following the completion of the acquisition, the chief executive officer now directly owns 550,333 shares in the company, valued at $831,002.83. The trade was a 7.76 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nerdy Trading Down 1.6 %

Nerdy stock opened at $1.51 on Wednesday. The company has a market cap of $271.47 million, a PE ratio of -4.43 and a beta of 2.00. Nerdy, Inc. has a 1 year low of $0.73 and a 1 year high of $3.60. The company’s 50-day moving average is $1.05 and its two-hundred day moving average is $1.31.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and cut their target price for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Northland Capmk downgraded Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. JMP Securities restated a “market perform” rating on shares of Nerdy in a report on Friday, November 8th. Raymond James cut Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.86.

Hedge Funds Weigh In On Nerdy

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Nerdy by 2.9% in the first 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. Bank of New York Mellon Corp grew its position in shares of Nerdy by 28.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock worth $437,000 after buying an additional 58,152 shares during the period. nVerses Capital LLC bought a new stake in shares of Nerdy in the 2nd quarter valued at about $34,000. ACR Alpine Capital Research LLC raised its position in shares of Nerdy by 4.1% in the 2nd 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. Finally, Rhumbline Advisers boosted its stake in Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after acquiring an additional 8,834 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors and hedge funds.

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.