Nerdy, Inc. (NYSE:NRDY) CEO Charles K. Cohn Purchases 150,000 Shares

Nerdy, Inc. (NYSE:NRDYGet Rating) CEO Charles K. Cohn bought 150,000 shares of the stock in a transaction dated Monday, June 6th. The shares were purchased at an average cost of $2.84 per share, for a total transaction of $426,000.00. Following the completion of the purchase, the chief executive officer now owns 4,059,345 shares in the company, valued at $11,528,539.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of NYSE:NRDY traded up $0.26 on Wednesday, hitting $3.25. 999,805 shares of the company’s stock were exchanged, compared to its average volume of 766,822. The firm’s 50-day moving average is $3.46 and its 200 day moving average is $4.31. The company has a market capitalization of $516.84 million, a PE ratio of -12.46 and a beta of 0.55. Nerdy, Inc. has a 1-year low of $1.59 and a 1-year high of $13.49.

Several hedge funds and other institutional investors have recently made changes to their positions in NRDY. Bank of America Corp DE lifted its position in Nerdy by 108,950.0% during the 1st quarter. Bank of America Corp DE now owns 13,086 shares of the company’s stock worth $67,000 after acquiring an additional 13,074 shares during the period. Royal Bank of Canada lifted its position in Nerdy by 3,036.0% during the 1st quarter. Royal Bank of Canada now owns 5,488 shares of the company’s stock worth $28,000 after acquiring an additional 5,313 shares during the period. G2 Investment Partners Management LLC raised its stake in shares of Nerdy by 5.0% during the 1st quarter. G2 Investment Partners Management LLC now owns 427,500 shares of the company’s stock worth $2,176,000 after buying an additional 20,535 shares in the last quarter. Woodline Partners LP raised its stake in shares of Nerdy by 49.5% during the 1st quarter. Woodline Partners LP now owns 2,297,088 shares of the company’s stock worth $11,692,000 after buying an additional 760,917 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Nerdy by 424.7% during the 1st quarter. State Street Corp now owns 214,601 shares of the company’s stock worth $1,092,000 after buying an additional 173,701 shares in the last quarter. 56.01% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on NRDY shares. Raymond James reduced their price target on shares of Nerdy from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Tuesday, March 1st. Needham & Company LLC dropped their price target on shares of Nerdy from $8.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, May 17th. Barclays dropped their price target on shares of Nerdy from $9.00 to $5.00 in a research note on Tuesday, March 1st. JPMorgan Chase & Co. dropped their price target on shares of Nerdy from $11.00 to $7.00 in a research note on Tuesday, May 17th. Finally, Canaccord Genuity Group dropped their price target on shares of Nerdy from $8.00 to $7.00 in a research note on Friday, May 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Nerdy presently has a consensus rating of “Buy” and an average target price of $6.60.

Nerdy Company Profile (Get Rating)

Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.

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