Analysts Set Nerdy, Inc. (NYSE:NRDY) Price Target at $2.61

Shares of Nerdy, Inc. (NYSE:NRDY) have been given an average rating of “Hold” by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One research 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. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $2.61.

Several brokerages have recently weighed in on NRDY. The Goldman Sachs Group increased their price objective on shares of Nerdy from $1.00 to $1.50 and gave the company a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $1.00 price target (down previously from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Finally, Northland Securities dropped their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Friday, November 8th.

Nerdy Stock Up 1.6 %

Shares of NYSE NRDY opened at $1.59 on Monday. The business’s 50 day moving average price is $1.73 and its two-hundred day moving average price is $1.36. Nerdy has a twelve month low of $0.73 and a twelve month high of $3.28. The company has a market cap of $285.90 million, a PE ratio of -4.66 and a beta of 1.98.

Insider Buying and Selling at Nerdy

In related news, CFO Jason H. Pello sold 81,381 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.80, for a total transaction of $146,485.80. Following the sale, the chief financial officer now owns 2,143,805 shares in the company, valued at $3,858,849. The trade was a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles K. Cohn bought 2,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $1.99 per share, with a total value of $3,980,000.00. Following the completion of the transaction, the chief executive officer now directly owns 30,509,191 shares of the company’s stock, valued at approximately $60,713,290.09. The trade was a 7.02 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,600,000 shares of company stock worth $4,997,000 and have sold 194,843 shares worth $344,177. Company insiders own 31.35% of the company’s stock.

Institutional Trading of Nerdy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Soviero Asset Management LP bought a new stake in Nerdy during the 4th quarter worth approximately $243,000. ProShare Advisors LLC grew its holdings in Nerdy by 55.2% in the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock worth $35,000 after purchasing an additional 7,594 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Nerdy by 99.5% in the 4th 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 period. Balyasny Asset Management L.P. acquired a new stake in Nerdy in the fourth quarter valued at approximately $150,000. Finally, Bank of America Corp DE grew its holdings 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 valued at $98,000 after buying an additional 17,889 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors.

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.