Nerdy Inc. [NRDY] stock for 17,500,000 USD was bought by Cohn Charles K.

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nerdy Inc. shares valued at $17,500,000 were purchased by Cohn Charles K. on Aug 20. At $3.50 per share, Cohn Charles K. acquired 5,000,000 shares. The insider’s holdings grew to 10,000,000 shares worth approximately $21.6 million following the completion of this transaction.

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Also, LIGHT STREET CAPITAL MANAGEMEN sold 5,000,000 shares, netting a total of over 17,500,000 in proceeds. Following the sale of shares at $3.50 each, the insider now holds 48,098 shares.

Before that, LIGHT STREET CAPITAL MANAGEMEN had sold 7,450 shares from its account. In a trade valued at $15,332, the 10% Owner traded Nerdy Inc. shares for $2.06 each. Upon closing the transaction, the insider’s holdings decreased to 7,450 shares, worth approximately $19.5 million.

As published in a research note from Goldman on May 17, 2022, Nerdy Inc. [NRDY] has been rated down from a Buy to a Neutral and the price target has been revised to $3 from $8. This represents a 28.0% premium over Thursday’s closing price. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in late March. As of March 01, 2022, Needham has reiterated its “Buy” rating for NRDY. Earlier on January 07, 2022, Goldman initiated its rating. Their recommendation was “a Buy” for NRDY stock.

Analyzing NRDY’s Price Performance

On Thursday, Nerdy Inc. [NYSE: NRDY] plunged -3.14% to $2.16. The stock’s lowest price that day was $2.09, but it reached a high of $2.26 in the same session. During the last five days, there has been a drop of approximately -23.94%. Over the course of the year, Nerdy Inc. shares have dropped approximately -52.00%. Shares of the company reached a 52-week high of $5.61 on 03/30/22 and a 52-week low of $1.59 on 05/19/22. A 50-day SMA is recorded $2.78, while a 200-day SMA reached $3.65. Nevertheless, trading volume fell to 1.24 million shares from 0.62 million shares the previous day.

Support And Resistance Levels for Nerdy Inc. (NRDY)

According to the 24-hour chart, there is a support level at 2.08, which, if violated, would cause prices to drop to 2.00. In the upper region, resistance lies at 2.25. The next price resistance is at 2.34. RSI (Relative Strength Index) is 33.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.48, which suggests the price will decrease in the coming days. Percent R is at 93.27%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Nerdy Inc. subject to short interest?

Stocks of Nerdy Inc. saw a sharp rise in short interest on Aug 30, 2022 jumping by 0.44 million shares to 5.14 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 4.7 million shares. A jump of 8.56% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.93 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.93.

Which companies own the most shares of Nerdy Inc. (NRDY)?

According to Greenvale Capital LLP filings, the company currently owns 8,000,000 shares, which is about 8.75% of the total NRDY shares outstanding. The investor’s shares have appreciated by 300,000 from its previous 13-F filing of 7700000.0 shares. With the completion of the sale transaction, Light Street Capital Management L’s stake is now worth $14,930,511. Franklin Advisers, Inc. reduced a -0.12% interest valued at $14.55 million while Goldman Sachs & Co. LLC purchased a 903,471 stake. A total of 0 shares of Nerdy Inc. were bought by Rubric Capital Management LP during the quarter, and 508,231 were bought by Clearline Capital LP. In its current portfolio, The Vanguard Group, Inc. holds 2,560,589 shares valued at $7.84 million.

In terms of Nerdy Inc. share price expectations, FactSet research, analysts set an average price target of $5.17 in the next 12 months, up nearly 124.22% from the previous closing price of $2.23. Analysts anticipate Nerdy Inc. stock to reach $7.00 by 2022, with the lowest price target being $3.50. In spite of this, 9 analysts ranked Nerdy Inc. stock as an Overweight at the end of 2022. On November 12, 2021, JP Morgan assigned a price target of “an Overweight” to the stock and initiated coverage with a $12.


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