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

Shares of Nerdy, Inc. (NYSE:NRDY) have received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $2.86.

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Northland Capmk lowered Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Canaccord Genuity Group reiterated a “hold” rating and issued a $3.00 target price (down from $5.00) on shares of Nerdy in a report on Friday, August 9th. Northland Securities cut their price target on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Finally, Barclays decreased their price objective on Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th.

Nerdy Price Performance

Shares of NYSE:NRDY opened at $1.41 on Monday. The firm has a market capitalization of $253.43 million, a PE ratio of -4.13 and a beta of 1.68. Nerdy has a 1 year low of $0.73 and a 1 year high of $3.60. The firm’s 50-day moving average is $0.99 and its two-hundred day moving average is $1.36.

Insider Activity at Nerdy

In related news, Director Abigail Blunt acquired 49,045 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the purchase, the director now directly owns 50,045 shares of the company’s stock, valued at approximately $45,540.95. The trade was a 4,904.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles K. Cohn bought 746,335 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $1.23 per share, for a total transaction of $917,992.05. Following the transaction, the chief executive officer now directly owns 24,223,884 shares of the company’s stock, valued at approximately $29,795,377.32. This represents a 3.18 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 10,138,408 shares of company stock valued at $9,428,774 and sold 135,772 shares valued at $148,099. 31.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nerdy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRDY. SG Americas Securities LLC acquired a new position in shares of Nerdy in the 3rd quarter valued at $29,000. AM Investment Strategies LLC acquired a new position in Nerdy in the third quarter valued at $29,000. nVerses Capital LLC acquired a new stake in shares of Nerdy during the second quarter worth about $34,000. Bayesian Capital Management LP purchased a new position in shares of Nerdy during the first quarter worth about $101,000. Finally, Barclays PLC increased its position in Nerdy by 330.4% in the 3rd 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 period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

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.