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

Nerdy, Inc. (NYSE:NRDY) has been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $2.86.

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

Nerdy Price Performance

Shares of Nerdy stock opened at $1.95 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 $351.74 million, a PE ratio of -5.74 and a beta of 1.96. The company’s fifty day moving average price is $1.38 and its two-hundred day moving average price is $1.30.

Insider Activity

In other Nerdy news, CFO Jason H. Pello sold 70,490 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 approximately $2,390,753.68. This represents a 3.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles K. Cohn acquired 8,338,206 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was purchased at an average price of $0.90 per share, for a total transaction of $7,504,385.40. Following the completion of the transaction, the chief executive officer now directly owns 20,948,924 shares in the company, valued at approximately $18,854,031.60. The trade was a 66.12 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 13,455,750 shares of company stock worth $15,530,190 and sold 160,732 shares worth $211,015. 31.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NRDY. Millennium Management LLC grew its stake in shares of Nerdy by 382.0% during the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after purchasing an additional 1,486,910 shares during the period. Ritholtz Wealth Management bought a new position in Nerdy during the third quarter worth about $867,000. Greenvale Capital LLP grew its position in shares of Nerdy by 6.0% during the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after buying an additional 509,004 shares during the period. Clearline Capital LP increased its stake in shares of Nerdy by 34.3% in the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock valued at $3,084,000 after acquiring an additional 471,603 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Nerdy by 12.9% in the 2nd 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 during the period. Institutional investors 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.