Analysts Set Nerdy, Inc. (NYSE:NRDY) Target Price at $2.86

Shares of Nerdy, Inc. (NYSE:NRDY) have been given a consensus rating of “Hold” by the eleven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $2.86.

NRDY has been the topic of a number of research reports. Northland Securities dropped their price objective on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $2.00 price objective on shares of Nerdy in a research 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. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Finally, 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.

Insider Buying and Selling

In related news, CEO Charles K. Cohn acquired 2,000,000 shares of Nerdy stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $1.99 per share, for a total transaction of $3,980,000.00. Following the completion of the transaction, the chief executive officer now directly owns 30,509,191 shares in the company, valued at approximately $60,713,290.09. This represents a 7.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason H. Pello sold 30,242 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $1.84, for a total transaction of $55,645.28. Following the transaction, the chief financial officer now owns 2,225,186 shares of the company’s stock, valued at approximately $4,094,342.24. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 13,455,750 shares of company stock valued at $15,530,190 and have sold 160,732 shares valued at $211,015. 31.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Nerdy

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Nerdy during the third quarter valued at approximately $29,000. AM Investment Strategies LLC bought a new stake in Nerdy during the third quarter valued at about $29,000. nVerses Capital LLC purchased a new position in shares of Nerdy in the 2nd quarter worth approximately $34,000. Barclays PLC grew its holdings in Nerdy by 330.4% in the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after purchasing an additional 79,808 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in Nerdy during the 3rd quarter worth $138,000. 39.10% of the stock is owned by institutional investors.

Nerdy Stock Performance

Nerdy stock opened at $1.60 on Friday. The stock has a market cap of $288.60 million, a PE ratio of -4.71 and a beta of 2.00. The stock has a fifty day moving average of $1.22 and a 200 day moving average of $1.30. Nerdy has a one year low of $0.73 and a one year 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.