Insider Buying: Nerdy, Inc. (NYSE:NRDY) CEO Purchases 8,338,206 Shares of Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn bought 8,338,206 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $0.90 per share, for a total transaction of $7,504,385.40. Following the completion of the purchase, the chief executive officer now directly owns 20,948,924 shares in the company, valued at $18,854,031.60. The trade was a 66.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Nerdy Price Performance

Shares of NRDY stock opened at $0.96 on Friday. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60. The stock has a market cap of $170.19 million, a P/E ratio of -2.81 and a beta of 1.68. The stock has a fifty day moving average price of $0.96 and a 200 day moving average price of $1.40.

Institutional Trading of Nerdy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRDY. nVerses Capital LLC bought a new position in Nerdy during the second quarter worth about $34,000. SG Americas Securities LLC acquired a new position in shares of Nerdy in the 3rd quarter worth approximately $29,000. AM Investment Strategies LLC bought a new position in shares of Nerdy during the 3rd quarter worth approximately $29,000. Bayesian Capital Management LP acquired a new stake in Nerdy in the 1st quarter valued at $101,000. Finally, Rhumbline Advisers grew its position in Nerdy by 11.6% in the second 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 period. Institutional investors own 39.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NRDY. Barclays lowered their price target on Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Canaccord Genuity Group downgraded Nerdy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Canaccord Genuity Group reissued a “hold” rating and issued a $3.00 price objective (down from $5.00) on shares of Nerdy in a research report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $2.00 target price on shares of Nerdy in a research note on Friday, November 8th. Finally, Northland Securities reduced their price target on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Nerdy currently has a consensus rating of “Hold” and an average 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.