Nerdy (NYSE:NRDY) Rating Lowered to Underweight at JPMorgan Chase & Co.

Nerdy (NYSE:NRDY) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Monday, MarketBeat Ratings reports.

Several other brokerages also recently weighed in on NRDY. Cantor Fitzgerald restated a “neutral” rating and set a $1.00 target price (down from $6.00) on shares of Nerdy in a research note on Friday, November 8th. Northland Capmk lowered Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $3.00 price objective (down from $5.00) on shares of Nerdy in a research report on Friday, August 9th. Northland Securities cut their price target 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. Finally, Barclays dropped their price objective on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.86.

Nerdy Trading Up 1.1 %

NYSE NRDY opened at $0.90 on Monday. The firm’s fifty day simple moving average is $0.97 and its two-hundred day simple moving average is $1.44. The firm has a market capitalization of $160.24 million, a P/E ratio of -2.68 and a beta of 1.68. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60.

Insider Buying and Selling

In other Nerdy news, CFO Jason H. Pello sold 50,903 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $0.85, for a total transaction of $43,267.55. Following the sale, the chief financial officer now directly owns 2,356,200 shares of the company’s stock, valued at approximately $2,002,770. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Abigail Blunt purchased 49,045 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average cost of $0.91 per share, with a total value of $44,630.95. Following the completion of the acquisition, the director now owns 50,045 shares of the company’s stock, valued at approximately $45,540.95. This represents a 4,900.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jason H. Pello sold 50,903 shares of Nerdy stock in a transaction on Friday, August 16th. The shares were sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the transaction, the chief financial officer now directly owns 2,356,200 shares of the company’s stock, valued at $2,002,770. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 13,212,528 shares of company stock valued at $12,063,972 over the last 90 days. Insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Several hedge funds have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of Nerdy during the 2nd quarter worth approximately $34,000. SG Americas Securities LLC purchased a new stake in Nerdy in the 3rd quarter worth $29,000. AM Investment Strategies LLC acquired a new position in Nerdy during the third quarter worth $29,000. Bayesian Capital Management LP purchased a new position in Nerdy during the first quarter valued at $101,000. Finally, Rhumbline Advisers grew its position in shares of Nerdy by 11.6% in the second 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. 39.10% of the stock is 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.