Charles K. Cohn Purchases 2,000,000 Shares of Nerdy, Inc. (NYSE:NRDY) Stock

Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn purchased 2,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $1.99 per share, for a total transaction of $3,980,000.00. Following the acquisition, the chief executive officer now directly owns 30,509,191 shares of the company’s stock, valued at $60,713,290.09. This represents a 7.02 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nerdy Price Performance

Nerdy stock opened at $1.60 on Friday. Nerdy, Inc. has a one year low of $0.73 and a one year high of $3.60. The company’s fifty day moving average price is $1.22 and its two-hundred day moving average price is $1.30. The company has a market capitalization of $288.60 million, a price-to-earnings ratio of -4.71 and a beta of 2.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Greenvale Capital LLP grew its holdings in Nerdy by 6.0% during the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after purchasing an additional 509,004 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Nerdy by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock worth $4,224,000 after buying an additional 79,624 shares during the period. Marshall Wace LLP grew its stake in Nerdy by 12.9% in the 2nd quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock valued at $3,274,000 after buying an additional 224,049 shares during the last quarter. Millennium Management LLC raised its holdings in Nerdy by 382.0% in the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after acquiring an additional 1,486,910 shares during the period. Finally, Clearline Capital LP lifted its position in Nerdy by 34.3% during the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock worth $3,084,000 after acquiring an additional 471,603 shares during the last quarter. 39.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NRDY. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Northland Securities dropped their price objective on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $1.00 target price (down previously from $6.00) on shares of Nerdy in a research note on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective on shares of Nerdy in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Nerdy currently has a consensus rating of “Hold” and a consensus 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.