Nerdy, Inc. (NYSE:NRDY) Receives $2.31 Average Target Price from Brokerages

Nerdy, Inc. (NYSE:NRDY) has earned an average rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.31.

Separately, The Goldman Sachs Group upped their price objective on shares of Nerdy from $1.00 to $1.50 and gave the stock a “neutral” rating in a report on Monday, March 3rd.

Insider Buying and Selling at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 31,877 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $1.54, for a total value of $49,090.58. Following the completion of the transaction, the chief financial officer now owns 2,036,928 shares in the company, valued at $3,136,869.12. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher C. Swenson sold 19,126 shares of Nerdy stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $1.54, for a total value of $29,454.04. Following the sale, the insider now owns 1,665,902 shares in the company, valued at $2,565,489.08. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 265,604 shares of company stock valued at $443,076. Insiders own 50.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Soviero Asset Management LP acquired a new position in shares of Nerdy in the 4th quarter valued at $243,000. ProShare Advisors LLC increased its stake in Nerdy by 55.2% in the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock valued at $35,000 after purchasing an additional 7,594 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Nerdy by 99.5% in the fourth quarter. Nuveen Asset Management LLC now owns 410,523 shares of the company’s stock valued at $665,000 after buying an additional 204,760 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Nerdy during the fourth quarter worth about $150,000. Finally, Bank of America Corp DE boosted its stake in shares of Nerdy by 41.9% during the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock worth $98,000 after buying an additional 17,889 shares during the period. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Nerdy Stock Down 4.9 %

NYSE:NRDY opened at $1.46 on Friday. The company has a market capitalization of $265.46 million, a P/E ratio of -4.28 and a beta of 2.00. Nerdy has a 52 week low of $0.73 and a 52 week high of $3.03. The stock’s fifty day moving average is $1.70 and its two-hundred day moving average is $1.42.

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.