Nerdy, Inc. (NYSE:NRDY) Given Consensus Recommendation of “Hold” by Brokerages

Nerdy, Inc. (NYSE:NRDY) has received an average rating of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.86.

Several analysts have recently issued reports on NRDY shares. JPMorgan Chase & Co. cut Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 price target on shares of Nerdy in a research report on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Northland Securities reduced their target price 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 reiterated a “neutral” rating and set a $1.00 price target (down previously from $6.00) on shares of Nerdy in a report on Friday, November 8th.

Insider Transactions at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 30,282 shares of Nerdy stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $0.99, for a total transaction of $29,979.18. Following the transaction, the chief financial officer now owns 2,325,918 shares of the company’s stock, valued at $2,302,658.82. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher C. Swenson sold 35,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $1.24, for a total value of $43,400.00. Following the completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 11,155,750 shares of company stock worth $11,067,190 and sold 135,772 shares worth $148,099. Insiders own 31.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in shares of Nerdy by 2.0% during the third quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock worth $4,224,000 after buying an additional 79,624 shares during the period. Barclays PLC raised its stake in Nerdy by 330.4% during the 3rd quarter. Barclays PLC now owns 103,960 shares of the company’s stock valued at $102,000 after acquiring an additional 79,808 shares during the last quarter. Geode Capital Management LLC lifted its position in Nerdy by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock worth $1,690,000 after acquiring an additional 145,575 shares during the period. State Street Corp grew its stake in shares of Nerdy by 0.9% in the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company’s stock valued at $1,232,000 after purchasing an additional 11,721 shares during the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Nerdy in the third quarter valued at approximately $138,000. 39.10% of the stock is owned by hedge funds and other institutional investors.

Nerdy Price Performance

Shares of NRDY opened at $1.60 on Friday. The company has a market cap of $288.60 million, a P/E ratio of -4.71 and a beta of 2.00. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60. The firm’s 50 day moving average price is $1.14 and its 200 day moving average price is $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.