Nerdy, Inc. (NYSE:NRDY) Receives Average Recommendation of “Hold” from Analysts

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

Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 price target on shares of Nerdy in a report on Friday, November 8th. Canaccord Genuity Group downgraded shares of Nerdy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered shares of Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Northland Securities reduced their target price on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Finally, Raymond James cut Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th.

Nerdy Stock Performance

Shares of NYSE:NRDY opened at $1.40 on Monday. The stock’s 50-day moving average is $0.99 and its 200 day moving average is $1.34. Nerdy has a 1 year low of $0.73 and a 1 year high of $3.60.

Insider Transactions at Nerdy

In related news, insider Christopher C. Swenson sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $1.24, for a total value of $43,400.00. Following the completion of the transaction, the insider now directly owns 1,768,248 shares in the company, valued at $2,192,627.52. The trade was a 1.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles K. Cohn bought 746,335 shares of Nerdy stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $1.23 per share, with a total value of $917,992.05. Following the acquisition, the chief executive officer now owns 24,223,884 shares in the company, valued at approximately $29,795,377.32. This represents a 3.18 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 10,138,408 shares of company stock valued at $9,428,774 and have sold 135,772 shares valued at $148,099. Insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Nerdy during the third quarter valued at approximately $29,000. AM Investment Strategies LLC purchased a new stake in Nerdy during the 3rd quarter valued at $29,000. nVerses Capital LLC bought a new position in shares of Nerdy during the 2nd quarter valued at $34,000. Bayesian Capital Management LP purchased a new position in shares of Nerdy in the 1st quarter worth $101,000. Finally, Barclays PLC grew its holdings in shares of Nerdy by 330.4% in the third quarter. Barclays PLC now owns 103,960 shares of the company’s stock worth $102,000 after acquiring an additional 79,808 shares during the period. Institutional investors own 39.10% of the company’s stock.

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.