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

Shares of Nerdy, Inc. (NYSE:NRDY) have been assigned a consensus rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $2.86.

Several brokerages recently commented on NRDY. Raymond James lowered shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $1.00 target price (down previously from $6.00) on shares of Nerdy in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 price target on shares of Nerdy in a research note on Friday, November 8th. Canaccord Genuity Group lowered Nerdy from a “buy” rating to a “hold” rating and cut their price objective for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. Finally, Barclays reduced their target price on Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 9th.

Nerdy Trading Up 13.7 %

Shares of NRDY stock opened at $0.96 on Monday. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60. The business’s 50 day moving average is $0.96 and its two-hundred day moving average is $1.39. The company has a market capitalization of $170.20 million, a P/E ratio of -2.81 and a beta of 1.68.

Insider Transactions at Nerdy

In other news, CEO Charles K. Cohn acquired 8,338,206 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $0.90 per share, with a total value of $7,504,385.40. Following the completion of the acquisition, the chief executive officer now owns 20,948,924 shares of the company’s stock, valued at $18,854,031.60. This trade represents a 66.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason H. Pello sold 30,282 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $0.99, for a total transaction of $29,979.18. Following the completion of the transaction, the chief financial officer now owns 2,325,918 shares in the company, valued at $2,302,658.82. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 31.35% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NRDY. Ritholtz Wealth Management purchased a new position in shares of Nerdy during the third quarter worth $867,000. Vanguard Group Inc. lifted its stake in Nerdy by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock worth $9,025,000 after acquiring an additional 88,771 shares in the last quarter. Greenvale Capital LLP boosted its holdings in Nerdy by 6.0% during 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. SG Americas Securities LLC acquired a new position in Nerdy in the 3rd quarter valued at about $29,000. Finally, Cubist Systematic Strategies LLC increased its stake in Nerdy by 286.7% during 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 period. Institutional investors and hedge funds own 39.10% of the company’s stock.

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.