Nerdy, Inc. (NYSE:NRDY) Receives $2.86 Consensus PT from Brokerages

Nerdy, Inc. (NYSE:NRDY) has been assigned an average rating of “Hold” from the eleven research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2.86.

Several equities research analysts have recently commented on NRDY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $1.00 price objective (down from $6.00) on shares of Nerdy in a research note on Friday, November 8th. Northland Securities decreased their price objective 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 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 restated a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th.

Nerdy Trading Down 5.7 %

Shares of NYSE NRDY opened at $1.59 on Tuesday. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60. The firm has a market capitalization of $285.90 million, a price-to-earnings ratio of -4.66 and a beta of 1.96. The firm has a 50 day moving average of $1.45 and a 200 day moving average of $1.30.

Insiders Place Their Bets

In other Nerdy news, CEO Charles K. Cohn purchased 208,726 shares of Nerdy stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $0.87 per share, for a total transaction of $181,591.62. Following the completion of the transaction, the chief executive officer now owns 21,157,650 shares of the company’s stock, valued at approximately $18,407,155.50. This trade represents a 1.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jason H. Pello sold 70,490 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $1.06, for a total transaction of $74,719.40. Following the transaction, the chief financial officer now owns 2,255,428 shares of the company’s stock, valued at $2,390,753.68. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 13,455,750 shares of company stock worth $15,530,190 and have sold 160,732 shares worth $211,015. Corporate insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in Nerdy by 2.0% during the third 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 last quarter. Barclays PLC grew its holdings 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 purchasing an additional 79,808 shares during the last quarter. Geode Capital Management LLC raised its position in Nerdy by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock worth $1,690,000 after purchasing an additional 145,575 shares during the period. State Street Corp lifted its stake in Nerdy by 0.9% in the third quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after purchasing an additional 11,721 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of Nerdy during the third quarter valued at approximately $138,000. 39.10% of the stock is owned by institutional investors.

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.