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

Shares of Nerdy, Inc. (NYSE:NRDY) have earned an average rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to 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.

NRDY has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Northland Securities decreased their price objective on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note 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 reaffirmed a “neutral” rating and issued a $1.00 target price (down previously from $6.00) on shares of Nerdy in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $2.00 price target on shares of Nerdy in a report on Friday, November 8th.

Insiders Place Their Bets

In related news, CEO Charles K. Cohn bought 208,726 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average cost of $0.87 per share, with a total value of $181,591.62. Following the transaction, the chief executive officer now directly owns 21,157,650 shares in the company, valued at approximately $18,407,155.50. This trade represents a 1.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason H. Pello sold 30,242 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $1.84, for a total value of $55,645.28. Following the completion of the sale, the chief financial officer now owns 2,225,186 shares in the company, valued at $4,094,342.24. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 13,455,750 shares of company stock valued at $15,530,190 and sold 160,732 shares valued at $211,015. Insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its position in shares of Nerdy by 382.0% during the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after purchasing an additional 1,486,910 shares during the period. Ritholtz Wealth Management bought a new position in shares of Nerdy in the third quarter valued at $867,000. Greenvale Capital LLP grew its holdings in shares of Nerdy by 6.0% during the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after buying an additional 509,004 shares during the last quarter. Clearline Capital LP increased its position in shares of Nerdy by 34.3% during the second quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock worth $3,084,000 after acquiring an additional 471,603 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Nerdy by 12.9% in the 2nd quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after acquiring an additional 224,049 shares during the last quarter. Institutional investors own 39.10% of the company’s stock.

Nerdy Price Performance

Shares of NYSE NRDY opened at $1.67 on Tuesday. The stock has a market capitalization of $301.25 million, a PE ratio of -4.91 and a beta of 1.96. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60. The business has a fifty day moving average price of $1.43 and a two-hundred day moving average price of $1.30.

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.