Nerdy (NYSE:NRDY) Given New $1.50 Price Target at The Goldman Sachs Group

Nerdy (NYSE:NRDY) had its price target hoisted by The Goldman Sachs Group from $1.00 to $1.50 in a research report report published on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on the company. JMP Securities restated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $1.00 price target (down previously from $6.00) on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. cut Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “buy” rating and issued a $2.00 price target on shares of Nerdy in a research report on Friday, November 8th. Finally, Northland Securities dropped their price target on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nerdy presently has an average rating of “Hold” and a consensus price target of $2.61.

Nerdy Stock Performance

Nerdy stock opened at $1.56 on Monday. Nerdy has a one year low of $0.73 and a one year high of $3.28. The business has a fifty day moving average of $1.74 and a two-hundred day moving average of $1.35. The company has a market cap of $281.39 million, a P/E ratio of -4.59 and a beta of 1.98.

Insider Buying and Selling

In other Nerdy news, CFO Jason H. Pello sold 30,242 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $1.84, for a total value of $55,645.28. Following the sale, the chief financial officer now directly owns 2,225,186 shares of the company’s stock, valued at approximately $4,094,342.24. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles K. Cohn purchased 2,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $1.99 per share, for a total transaction of $3,980,000.00. Following the completion of the purchase, the chief executive officer now owns 30,509,191 shares in the company, valued at $60,713,290.09. The trade was a 7.02 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 3,026,758 shares of company stock worth $5,654,207 and sold 194,843 shares worth $344,177. 31.35% of the stock is currently owned by company insiders.

Institutional Trading of Nerdy

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new stake in Nerdy in the 4th quarter worth about $26,000. ProShare Advisors LLC boosted its stake in Nerdy by 55.2% in the 4th quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock worth $35,000 after buying an additional 7,594 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Nerdy by 59.1% in the 4th quarter. Virtu Financial LLC now owns 23,294 shares of the company’s stock valued at $38,000 after purchasing an additional 8,655 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Nerdy in the 4th quarter valued at about $40,000. Finally, Quantbot Technologies LP lifted its stake in shares of Nerdy by 14,175.0% in the 4th quarter. Quantbot Technologies LP now owns 28,550 shares of the company’s stock valued at $46,000 after purchasing an additional 28,350 shares in the last quarter. 39.10% of the stock is owned by institutional investors and hedge funds.

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.