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

Shares of Nerdy, Inc. (NYSE:NRDY) have been assigned an average rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com 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 1 year price target among analysts that have issued a report on the stock in the last year is $2.86.

NRDY has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price target on shares of Nerdy in a research note on Friday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $1.00 target price (down from $6.00) on shares of Nerdy in a research note on Friday, November 8th. Northland Securities decreased their price target on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Northland Capmk cut Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, JMP Securities restated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th.

Nerdy Stock Performance

Shares of NRDY opened at $1.41 on Monday. The stock has a market capitalization of $253.43 million, a P/E ratio of -4.13 and a beta of 1.68. Nerdy has a 1 year low of $0.73 and a 1 year high of $3.60. The company’s fifty day moving average is $0.99 and its two-hundred day moving average is $1.36.

Insider Buying and Selling

In related news, Director Abigail Blunt acquired 49,045 shares of Nerdy stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the transaction, the director now directly owns 50,045 shares of the company’s stock, valued at $45,540.95. The trade was a 4,904.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles K. Cohn acquired 8,338,206 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of $0.90 per share, for a total transaction 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. The trade was a 66.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 10,138,408 shares of company stock worth $9,428,774 and have sold 135,772 shares worth $148,099. Insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Several hedge funds have recently modified their holdings of NRDY. nVerses Capital LLC acquired a new position in shares of Nerdy in the second quarter valued at approximately $34,000. SG Americas Securities LLC acquired a new position in Nerdy in the 3rd quarter valued at $29,000. AM Investment Strategies LLC purchased a new position in shares of Nerdy during the 3rd quarter worth $29,000. Bayesian Capital Management LP acquired a new stake in shares of Nerdy during the first quarter worth $101,000. Finally, Rhumbline Advisers grew its position in shares of Nerdy by 11.6% in the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after purchasing an additional 8,834 shares during the period. 39.10% of the stock is owned by institutional investors and hedge funds.

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.