The Goldman Sachs Group Forecasts Strong Price Appreciation for Nerdy (NYSE:NRDY) Stock

Nerdy (NYSE:NRDY) had its target price boosted by equities researchers at The Goldman Sachs Group from $1.00 to $1.50 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 4.76% from the stock’s current price.

Several other equities analysts have also issued reports on NRDY. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 target price on shares of Nerdy in a research note on Friday, November 8th. JMP Securities reissued a “market perform” rating 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. Cantor Fitzgerald reissued 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. Finally, Northland Securities lowered their price target on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.61.

Nerdy Trading Up 1.0 %

Shares of Nerdy stock opened at $1.58 on Monday. The stock’s fifty day moving average price is $1.74 and its 200-day moving average price is $1.35. Nerdy has a 12 month low of $0.73 and a 12 month high of $3.28. The firm has a market cap of $284.10 million, a P/E ratio of -4.63 and a beta of 1.98.

Insider Buying and Selling at Nerdy

In other Nerdy news, CEO Charles K. Cohn acquired 426,758 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was acquired at an average cost of $1.54 per share, for a total transaction of $657,207.32. Following the completion of the transaction, the chief executive officer now directly owns 25,509,191 shares of the company’s stock, valued at $39,284,154.14. This represents a 1.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason H. Pello sold 81,381 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.80, for a total value of $146,485.80. Following the completion of the sale, the chief financial officer now owns 2,143,805 shares of the company’s stock, valued at $3,858,849. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,026,758 shares of company stock valued at $5,654,207 and sold 194,843 shares valued at $344,177. 31.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Nerdy

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd purchased a new stake in shares of Nerdy in the fourth quarter valued at approximately $26,000. ProShare Advisors LLC increased its position in shares of Nerdy by 55.2% in the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock valued at $35,000 after buying an additional 7,594 shares in the last quarter. Virtu Financial LLC increased its position in shares of Nerdy by 59.1% during the fourth quarter. Virtu Financial LLC now owns 23,294 shares of the company’s stock worth $38,000 after purchasing an additional 8,655 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Nerdy during the fourth quarter worth approximately $40,000. Finally, Quantbot Technologies LP increased its position in shares of Nerdy by 14,175.0% during the fourth quarter. Quantbot Technologies LP now owns 28,550 shares of the company’s stock worth $46,000 after purchasing an additional 28,350 shares in the last quarter. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

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.