Nerdy (NYSE:NRDY) Rating Lowered to Underweight at JPMorgan Chase & Co.

Nerdy (NYSE:NRDY) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Monday, MarketBeat reports.

Other equities research analysts also recently issued reports about the company. Barclays decreased their price objective on Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Canaccord Genuity Group downgraded Nerdy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Raymond James lowered shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Northland Securities cut their price target 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. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.86.

Nerdy Stock Up 1.1 %

Nerdy stock opened at $0.90 on Monday. The company’s 50-day moving average price is $0.97 and its 200-day moving average price is $1.44. The company has a market cap of $160.24 million, a PE ratio of -2.68 and a beta of 1.68. Nerdy has a twelve month low of $0.73 and a twelve month high of $3.60.

Insiders Place Their Bets

In other news, CFO Jason H. Pello sold 50,903 shares of Nerdy stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the sale, the chief financial officer now owns 2,356,200 shares of the company’s stock, valued at approximately $2,002,770. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Jason H. Pello sold 50,903 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $0.85, for a total transaction of $43,267.55. Following the transaction, the chief financial officer now owns 2,356,200 shares of the company’s stock, valued at approximately $2,002,770. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles K. Cohn purchased 2,170,291 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were purchased at an average price of $1.03 per share, for a total transaction of $2,235,399.73. Following the purchase, the chief executive officer now owns 13,025,870 shares of the company’s stock, valued at approximately $13,416,646.10. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 13,212,528 shares of company stock worth $12,063,972 in the last three months. Corporate insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Several large investors have recently modified their holdings of NRDY. Citizens Financial Group Inc. RI purchased a new position in Nerdy during the third quarter valued at approximately $138,000. AM Investment Strategies LLC bought a new stake in Nerdy during the 3rd quarter valued at $29,000. Ritholtz Wealth Management purchased a new position in shares of Nerdy in the 3rd quarter valued at $867,000. SG Americas Securities LLC bought a new position in shares of Nerdy in the 3rd quarter worth $29,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Nerdy by 286.7% during the 2nd 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. Institutional investors own 39.10% of the company’s stock.

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.