Nerdy, Inc. (NYSE:NRDY) Receives $2.86 Average Target Price from Brokerages

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

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

Nerdy Stock Down 5.7 %

Shares of Nerdy stock opened at $1.59 on Tuesday. The company’s fifty day simple moving average is $1.45 and its two-hundred day simple moving average is $1.30. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60. The firm has a market cap of $285.90 million, a PE ratio of -4.66 and a beta of 1.96.

Insider Buying and Selling

In other news, insider Christopher C. Swenson sold 25,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $1.49, for a total transaction of $37,250.00. Following the sale, the insider now owns 1,743,248 shares in the company, valued at $2,597,439.52. This represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jason H. Pello sold 70,490 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1.06, for a total transaction of $74,719.40. Following the completion of the transaction, the chief financial officer now owns 2,255,428 shares of the company’s stock, valued at approximately $2,390,753.68. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 13,455,750 shares of company stock worth $15,530,190 and have sold 160,732 shares worth $211,015. 31.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NRDY. Ritholtz Wealth Management bought a new stake in Nerdy in the 3rd quarter worth about $867,000. Geode Capital Management LLC raised its holdings in shares of Nerdy by 9.3% during the third quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock valued at $1,690,000 after purchasing an additional 145,575 shares during the last quarter. Barclays PLC lifted its position in Nerdy by 330.4% during the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock valued at $102,000 after purchasing an additional 79,808 shares during the period. Greenvale Capital LLP boosted its holdings in Nerdy by 6.0% in the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after purchasing an additional 509,004 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Nerdy in the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.

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.