Nerdy, Inc. (NYSE:NRDY) Receives Consensus Recommendation of “Hold” from Analysts

Nerdy, Inc. (NYSE:NRDY) has been given an average rating of “Hold” by the eleven research firms that are presently covering the firm, MarketBeat 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 12-month price target among brokerages that have issued ratings on the stock in the last year is $2.86.

NRDY has been the subject of several analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $1.00 target price (down previously from $6.00) on shares of Nerdy in a report on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Northland Securities cut their target price on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $2.00 price target on shares of Nerdy in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. cut Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th.

Nerdy Stock Down 3.1 %

NYSE NRDY opened at $1.54 on Tuesday. Nerdy has a 52 week low of $0.73 and a 52 week high of $3.60. The firm has a market capitalization of $277.78 million, a price-to-earnings ratio of -4.53 and a beta of 1.96. The company has a fifty day moving average of $1.46 and a two-hundred day moving average of $1.30.

Insiders Place Their Bets

In other Nerdy news, insider Christopher C. Swenson sold 25,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $1.49, for a total transaction of $37,250.00. Following the completion of the sale, the insider now owns 1,743,248 shares in the company, valued at $2,597,439.52. This represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles K. Cohn purchased 8,338,206 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average price of $0.90 per share, for a total transaction of $7,504,385.40. Following the completion of the acquisition, the chief executive officer now directly owns 20,948,924 shares in the company, valued at approximately $18,854,031.60. This trade represents a 66.12 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 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.

Institutional Investors Weigh In On Nerdy

A number of hedge funds have recently made changes to their positions in NRDY. Bank of New York Mellon Corp raised its holdings in Nerdy by 28.5% in the second quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock worth $437,000 after purchasing an additional 58,152 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after acquiring an additional 8,834 shares in the last quarter. XTX Topco Ltd lifted its position in Nerdy by 1,064.9% during the second quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock valued at $307,000 after acquiring an additional 168,206 shares during the last quarter. Marshall Wace LLP boosted its stake in Nerdy by 12.9% in the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock valued at $3,274,000 after acquiring an additional 224,049 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Nerdy by 286.7% in the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock worth $434,000 after purchasing an additional 192,635 shares during the last quarter. 39.10% of the stock is currently 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.