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

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

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

Nerdy Stock Performance

Shares of NRDY opened at $1.74 on Friday. The stock has a 50-day moving average of $1.16 and a two-hundred day moving average of $1.29. The stock has a market cap of $313.86 million, a P/E ratio of -5.12 and a beta of 2.00. Nerdy has a one year low of $0.73 and a one year high of $3.60.

Insider Buying and Selling at Nerdy

In related news, CEO Charles K. Cohn bought 8,338,206 shares of the stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $0.90 per share, for a total transaction of $7,504,385.40. Following the acquisition, the chief executive officer now directly owns 20,948,924 shares in the company, valued at approximately $18,854,031.60. This trade represents a 66.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher C. Swenson sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $1.24, for a total value of $43,400.00. Following the completion of the sale, the insider now owns 1,768,248 shares of the company’s stock, valued at $2,192,627.52. This trade represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 11,155,750 shares of company stock valued at $11,067,190 over the last ninety days. Corporate insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRDY. Franklin Resources Inc. raised its holdings in shares of Nerdy by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock worth $4,224,000 after acquiring an additional 79,624 shares during the period. Barclays PLC raised its stake in Nerdy by 330.4% during the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after purchasing an additional 79,808 shares during the period. Geode Capital Management LLC boosted its holdings in Nerdy by 9.3% in the 3rd 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. State Street Corp grew its stake in shares of Nerdy by 0.9% in the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company’s stock valued at $1,232,000 after buying an additional 11,721 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Nerdy during the 3rd quarter worth approximately $138,000. Institutional investors and hedge funds 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.