Nerdy, Inc. (NYSE:NRDY) Receives $2.31 Consensus PT from Brokerages

Nerdy, Inc. (NYSE:NRDY) has earned a consensus recommendation of “Hold” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $2.31.

Separately, The Goldman Sachs Group lifted their price target on shares of Nerdy from $1.00 to $1.50 and gave the stock a “neutral” rating in a research note on Monday, March 3rd.

Insider Activity

In related news, insider Christopher C. Swenson sold 58,220 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.80, for a total transaction of $104,796.00. Following the sale, the insider now owns 1,685,028 shares in the company, valued at $3,033,050.40. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason H. Pello sold 81,381 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $1.80, for a total transaction of $146,485.80. Following the completion of the transaction, the chief financial officer now directly owns 2,143,805 shares in the company, valued at $3,858,849. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 265,604 shares of company stock worth $443,076. 50.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRDY. State Street Corp increased its position in Nerdy by 0.9% in the third quarter. State Street Corp now owns 1,253,663 shares of the company’s stock worth $1,232,000 after buying an additional 11,721 shares during the period. Barclays PLC grew its position in shares of Nerdy by 330.4% during 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 last quarter. Geode Capital Management LLC increased its holdings in shares of Nerdy by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock worth $1,690,000 after acquiring an additional 145,575 shares during the period. Franklin Resources Inc. lifted its position in Nerdy by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock valued at $4,224,000 after purchasing an additional 79,624 shares during the last quarter. Finally, Sargent Investment Group LLC acquired a new position in Nerdy during the 4th quarter valued at about $153,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

Nerdy Stock Up 0.4 %

Shares of NRDY opened at $1.43 on Friday. The firm has a market cap of $259.99 million, a price-to-earnings ratio of -4.19 and a beta of 2.00. The business’s 50 day moving average is $1.69 and its two-hundred day moving average is $1.43. Nerdy has a 52-week low of $0.73 and a 52-week high of $2.95.

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.