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

Nerdy, Inc. (NYSE:NRDY) has been given a consensus rating of “Hold” by the eleven research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $2.86.

Several equities analysts have recently weighed in on the company. 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. JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. JMP Securities reissued a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Northland Securities dropped their price objective on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1.00 target price (down from $6.00) on shares of Nerdy in a research note on Friday, November 8th.

Nerdy Trading Down 6.7 %

NRDY stock opened at $1.67 on Tuesday. Nerdy has a 1-year low of $0.73 and a 1-year high of $3.60. The business’s 50-day moving average price is $1.43 and its two-hundred day moving average price is $1.30. The firm has a market cap of $301.25 million, a PE ratio of -4.91 and a beta of 1.96.

Insider Transactions at Nerdy

In other news, 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 sale, the chief financial officer now directly owns 2,225,186 shares of the company’s stock, valued at approximately $4,094,342.24. This represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Swenson sold 35,000 shares of Nerdy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $1.24, for a total value of $43,400.00. Following the transaction, the insider now owns 1,768,248 shares of the company’s stock, valued at $2,192,627.52. The trade was a 1.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 13,455,750 shares of company stock worth $15,530,190 and sold 160,732 shares worth $211,015. Company insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

Several large investors have recently modified their holdings of NRDY. Rhumbline Advisers boosted its stake in Nerdy by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after purchasing an additional 8,834 shares during the period. State Street Corp grew its stake in shares of Nerdy by 0.9% in the third quarter. State Street Corp now owns 1,253,663 shares of the company’s stock valued at $1,232,000 after acquiring an additional 11,721 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Nerdy in the third quarter valued at about $29,000. AM Investment Strategies LLC acquired a new stake in Nerdy in the 3rd quarter worth about $29,000. Finally, Bank of New York Mellon Corp boosted its holdings in Nerdy by 28.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock valued at $437,000 after purchasing an additional 58,152 shares during the period. 39.10% of the stock is owned by 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.