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

Shares of Nerdy, Inc. (NYSE:NRDY) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $2.61.

NRDY has been the subject of a number of analyst reports. JMP Securities restated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $2.00 price target on shares of Nerdy in a research note on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $1.00 price target (down previously from $6.00) on shares of Nerdy in a research note on Friday, November 8th. The Goldman Sachs Group raised their price target on shares of Nerdy from $1.00 to $1.50 and gave the stock a “neutral” rating in a research note on Monday. Finally, JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research note on Monday, November 11th.

Insider Activity

In related news, CFO Jason H. Pello sold 30,242 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,094,342.24. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles K. Cohn purchased 2,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $1.99 per share, with a total value of $3,980,000.00. Following the acquisition, the chief executive officer now owns 30,509,191 shares of the company’s stock, valued at $60,713,290.09. This represents a 7.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,026,758 shares of company stock worth $5,654,207 and sold 194,843 shares worth $344,177. 31.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Nerdy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd acquired a new stake in Nerdy during the 4th quarter worth $26,000. ProShare Advisors LLC grew its holdings in Nerdy by 55.2% during the 4th quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock worth $35,000 after acquiring an additional 7,594 shares during the period. Virtu Financial LLC grew its holdings in Nerdy by 59.1% during the 4th quarter. Virtu Financial LLC now owns 23,294 shares of the company’s stock worth $38,000 after acquiring an additional 8,655 shares during the period. WINTON GROUP Ltd acquired a new stake in Nerdy during the 4th quarter worth $40,000. Finally, Quantbot Technologies LP grew its holdings in Nerdy by 14,175.0% during the 4th quarter. Quantbot Technologies LP now owns 28,550 shares of the company’s stock worth $46,000 after acquiring an additional 28,350 shares during the period. Institutional investors and hedge funds own 39.10% of the company’s stock.

Nerdy Stock Up 8.9 %

NRDY traded up $0.14 during midday trading on Monday, reaching $1.66. 796,178 shares of the company’s stock were exchanged, compared to its average volume of 1,260,968. The firm has a market capitalization of $298.53 million, a price-to-earnings ratio of -4.90 and a beta of 1.98. Nerdy has a one year low of $0.73 and a one year high of $3.28. The business has a 50-day simple moving average of $1.74 and a two-hundred day simple moving average of $1.35.

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.