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

Shares of Nerdy, Inc. (NYSE:NRDY) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $2.86.

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

Insiders Place Their Bets

In related news, CEO Charles K. Cohn purchased 2,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were bought at an average price of $1.99 per share, with a total value of $3,980,000.00. Following the completion of the purchase, the chief executive officer now directly owns 30,509,191 shares in the company, valued at approximately $60,713,290.09. This trade represents a 7.02 % increase in their position. The acquisition 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 firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $1.24, for a total transaction of $43,400.00. Following the completion of the transaction, the insider now directly owns 1,768,248 shares in the company, valued at approximately $2,192,627.52. This represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 13,455,750 shares of company stock valued at $15,530,190 and have sold 130,490 shares valued at $155,369. 31.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nerdy

A number of hedge funds have recently made changes to their positions in the business. Greenvale Capital LLP raised its stake in shares of Nerdy by 6.0% in the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after acquiring an additional 509,004 shares during the period. Franklin Resources Inc. raised its stake in shares of Nerdy by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock valued at $4,224,000 after acquiring an additional 79,624 shares during the period. Vanguard Group Inc. raised its stake in shares of Nerdy by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after acquiring an additional 88,771 shares during the period. Marshall Wace LLP increased its stake in Nerdy by 12.9% during the 2nd quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock worth $3,274,000 after buying an additional 224,049 shares during the period. Finally, Millennium Management LLC increased its stake in Nerdy by 382.0% during the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after buying an additional 1,486,910 shares during the period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Nerdy Trading Down 3.2 %

Shares of NRDY opened at $1.84 on Friday. The firm’s 50-day moving average is $1.19 and its two-hundred day moving average is $1.30. Nerdy has a twelve month low of $0.73 and a twelve month high of $3.60. The firm has a market capitalization of $331.90 million, a P/E ratio of -5.41 and a beta of 2.00.

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.