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

Nerdy, Inc. (NYSE:NRDY) has received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $2.86.

NRDY has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Northland Capmk lowered Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective on shares of Nerdy in a research note on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Finally, Northland Securities cut their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, November 8th.

Insider Activity at Nerdy

In other news, CFO Jason H. Pello sold 70,490 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1.06, for a total transaction of $74,719.40. Following the sale, the chief financial officer now owns 2,255,428 shares of the company’s stock, valued at approximately $2,390,753.68. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abigail Blunt bought 49,045 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the acquisition, the director now directly owns 50,045 shares of the company’s stock, valued at $45,540.95. The trade was a 4,904.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 9,392,073 shares of company stock worth $8,510,782. Insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

Large investors have recently bought and sold shares of the business. nVerses Capital LLC acquired a new position in Nerdy in the second quarter valued at $34,000. SG Americas Securities LLC acquired a new stake in Nerdy in the third quarter valued at about $29,000. AM Investment Strategies LLC purchased a new position in Nerdy in the third quarter valued at about $29,000. Bayesian Capital Management LP purchased a new position in Nerdy in the first quarter valued at about $101,000. Finally, Rhumbline Advisers increased its holdings in 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 buying an additional 8,834 shares in the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Nerdy Stock Performance

NYSE NRDY opened at $1.26 on Monday. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60. The stock has a 50-day simple moving average of $0.98 and a two-hundred day simple moving average of $1.37. The firm has a market capitalization of $227.28 million, a P/E ratio of -3.71 and a beta of 1.68.

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.