In a recent transaction, Charles K. Cohn, the Chief Executive Officer of Nerdy Inc. (NYSE:NRDY), made a significant purchase of the company's stock. On March 13, 2024, Mr. Cohn acquired a total of 75,000 shares of Nerdy Inc.'s Class A Common Stock at a weighted average price ranging from $2.68 to $2.88, with the total transaction amounting to $209,250.
The transaction was executed in multiple parts, and the reported weighted average price per share was $2.79. This purchase has increased Mr. Cohn's direct stake in the company, as indicated in the recent filing with the Securities and Exchange Commission.
Following the buy transactions, Mr. Cohn's ownership in Nerdy Inc. through indirect means, such as family trusts, has also been updated. The Cohn Family Trust and Cohn Family Investments Trust, dated May 24, 2018, now hold 185,704 shares each. Additionally, Rarefied Air Capital LLC, which is owned by three trusts associated with the Cohn family, holds a substantial number of shares totaling 10,855,579. The direct holdings in the company are reported to be 9,258,298 shares, which includes Restricted Stock Units (RSUs) under the Nerdy Inc. 2021 Equity Incentive Plan.
The RSUs are subject to vesting based on the achievement of specific share price milestones and are set to expire on September 20, 2028, if unvested. The milestones are set at various share prices ranging from $18.00 to $42.00, measured over a 90-day average period.
Investors and the market often pay close attention to insider transactions such as these, as they can be indicative of the executives' confidence in the company's future prospects. The recent purchase by Nerdy Inc.'s CEO might be seen as a positive signal, as the leader of the company is increasing his stake in the stock.
InvestingPro Insights
Amidst the CEO of Nerdy Inc. increasing his stake in the company, it's worth noting the performance of another company, Yiren Digital Ltd. (NYSE:YRD), which has been showcasing some noteworthy metrics. According to InvestingPro data, Yiren Digital currently has a market capitalization of $468.76 million and is trading at a low earnings multiple, with a P/E ratio of 1 and an adjusted P/E ratio for the last twelve months as of Q3 2023 of 1.69. This low valuation may attract investors looking for potentially undervalued stocks.
InvestingPro Tips highlight that Yiren Digital has experienced a significant return over the last week, with a 1-week price total return of 8.62%. Additionally, the company has shown a strong return over the last three months, with a 3-month price total return of 81.16%. The stock also generally trades with high price volatility, which could be of interest to certain types of investors.
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