Analysts Set Nerdy, Inc. (NYSE:NRDY) PT at $2.86

Nerdy, Inc. (NYSE:NRDY) has received an average rating of “Hold” from the eleven ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $2.86.

A number of equities analysts recently weighed in on NRDY shares. Northland Securities decreased their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $1.00 price objective (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “buy” rating and set a $2.00 price target on shares of Nerdy in a research report on Friday, November 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Nerdy in a report on Friday, November 8th.

Insider Buying and Selling at Nerdy

In related news, CFO Jason H. Pello sold 30,242 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $1.84, for a total value of $55,645.28. Following the sale, the chief financial officer now directly owns 2,225,186 shares of the company’s stock, valued at $4,094,342.24. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles K. Cohn acquired 2,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $1.99 per share, with a total value of $3,980,000.00. Following the acquisition, the chief executive officer now 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 disclosure for this purchase can be found here. In the last 90 days, insiders acquired 13,455,750 shares of company stock valued at $15,530,190 and sold 160,732 shares valued at $211,015. 31.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Nerdy

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new position in Nerdy during the 2nd quarter valued at about $34,000. SG Americas Securities LLC purchased a new position in shares of Nerdy during the third quarter valued at approximately $29,000. AM Investment Strategies LLC purchased a new position in shares of Nerdy during the third quarter valued at approximately $29,000. Rhumbline Advisers boosted its position in shares of Nerdy by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after purchasing an additional 8,834 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Nerdy by 330.4% in the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after acquiring an additional 79,808 shares during the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

Nerdy Stock Down 6.4 %

NYSE NRDY opened at $1.60 on Friday. The stock’s 50-day simple moving average is $1.22 and its two-hundred day simple moving average is $1.30. Nerdy has a twelve month low of $0.73 and a twelve month high of $3.60. The company has a market capitalization of $288.60 million, a price-to-earnings ratio of -4.71 and a beta of 2.00.

Nerdy Company Profile

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.