Nerdy, Inc. (NYSE:NRDY) Given Average Rating of “Hold” by Brokerages

Nerdy, Inc. (NYSE:NRDY) has earned an average recommendation of “Hold” from the eleven research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $2.86.

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

Nerdy Stock Performance

NRDY opened at $1.60 on Friday. The business’s fifty day simple moving average is $1.14 and its 200-day simple moving average is $1.30. 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 has a 12-month low of $0.73 and a 12-month high of $3.60.

Insider Transactions at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 70,490 shares of the 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 $2,390,753.68. This represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles K. Cohn purchased 8,338,206 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $0.90 per share, with a total value of $7,504,385.40. Following the completion of the transaction, the chief executive officer now directly owns 20,948,924 shares of the company’s stock, valued at $18,854,031.60. This represents a 66.12 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 11,155,750 shares of company stock worth $11,067,190 and have sold 135,772 shares worth $148,099. Company insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

A number of large investors have recently made changes to their positions in NRDY. nVerses Capital LLC purchased a new position in Nerdy in the second quarter worth approximately $34,000. SG Americas Securities LLC purchased a new stake in Nerdy in the 3rd quarter valued at about $29,000. AM Investment Strategies LLC acquired a new position in Nerdy in the third quarter valued at about $29,000. Rhumbline Advisers boosted its stake in Nerdy by 11.6% during the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after buying an additional 8,834 shares during the period. Finally, Barclays PLC increased its position in shares of 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 acquiring an additional 79,808 shares during the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

About Nerdy

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.