Nerdy, Inc. (NYSE:NRDY - Get Free Report) CEO Charles K. Cohn acquired 8,338,206 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were acquired at an average price of $0.90 per share, for a total transaction of $7,504,385.40. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Nerdy Stock Up 5.8 %
NRDY stock traded up $0.05 during trading on Friday, reaching $0.89. 445,482 shares of the company's stock were exchanged, compared to its average volume of 1,606,824. Nerdy, Inc. has a 1-year low of $0.73 and a 1-year high of $3.60. The company's fifty day moving average price is $0.96 and its 200-day moving average price is $1.42. The firm has a market cap of $158.39 million, a PE ratio of -2.47 and a beta of 1.68.
Analyst Upgrades and Downgrades
NRDY has been the topic of several analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $1.00 price objective (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. Canaccord Genuity Group downgraded Nerdy from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $5.00 to $3.00 in a report on Friday, August 9th. Raymond James downgraded Nerdy from an "outperform" rating to a "market perform" rating in a report on Friday, August 9th. Needham & Company LLC restated a "buy" rating and set a $2.00 price objective on shares of Nerdy in a report on Friday, November 8th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $3.00 price objective (down from $5.00) on shares of Nerdy in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Nerdy currently has an average rating of "Hold" and a consensus target price of $2.86.
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Institutional Trading of Nerdy
A number of hedge funds and other institutional investors have recently modified their holdings of NRDY. SG Americas Securities LLC bought a new stake in shares of Nerdy in the 3rd quarter worth $29,000. AM Investment Strategies LLC purchased a new stake in shares of Nerdy during the third quarter valued at $29,000. nVerses Capital LLC purchased a new stake in shares of Nerdy during the second quarter valued at $34,000. Bayesian Capital Management LP purchased a new stake in shares of Nerdy during the first quarter valued at $101,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Nerdy in the 3rd quarter worth about $138,000. Institutional investors own 39.10% of the company's stock.
About Nerdy
(
Get Free Report)
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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