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

Nerdy, Inc. (NYSE:NRDY) has received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $2.86.

A number of equities analysts have weighed in on NRDY shares. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research note 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. Northland Securities lowered their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report 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 research note on Friday, November 8th. Finally, 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.

Insider Buying and Selling at Nerdy

In related news, insider Christopher C. Swenson sold 25,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $1.49, for a total transaction of $37,250.00. Following the completion of the transaction, the insider now owns 1,743,248 shares in the company, valued at approximately $2,597,439.52. The trade was a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles K. Cohn bought 8,338,206 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $0.90 per share, with a total value of $7,504,385.40. Following the purchase, the chief executive officer now owns 20,948,924 shares of the company’s stock, valued at approximately $18,854,031.60. This represents a 66.12 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 13,455,750 shares of company stock valued at $15,530,190 and have sold 130,490 shares valued at $155,369. 31.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nerdy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC boosted its stake in Nerdy by 382.0% in the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock valued at $3,133,000 after acquiring an additional 1,486,910 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Nerdy in the third quarter valued at $867,000. Greenvale Capital LLP raised its holdings in shares of Nerdy by 6.0% in the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after buying an additional 509,004 shares during the last quarter. Clearline Capital LP raised its holdings in shares of Nerdy by 34.3% in the second quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock valued at $3,084,000 after buying an additional 471,603 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Nerdy by 12.9% in the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock valued at $3,274,000 after buying an additional 224,049 shares during the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

Nerdy Stock Performance

NYSE NRDY opened at $1.84 on Friday. The stock has a 50-day simple moving average of $1.19 and a two-hundred day simple moving average of $1.30. The firm has a market capitalization of $331.90 million, a P/E ratio of -5.41 and a beta of 2.00. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60.

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.