Brokerages Set Nerdy, Inc. (NYSE:NRDY) Price Target at $2.61

Shares of Nerdy, Inc. (NYSE:NRDY - Get Free Report) have received an average rating of "Hold" from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $2.61.

Several research analysts recently issued reports on NRDY shares. Northland Securities reduced their target price on shares of Nerdy from $3.00 to $2.00 and set a "market perform" rating for the company in a report on Friday, November 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $2.00 price target on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. cut Nerdy from a "neutral" rating to an "underweight" rating in a report on Monday, November 11th. JMP Securities reaffirmed a "market perform" rating on shares of Nerdy in a report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $1.00 price target (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th.

Nerdy Price Performance

NYSE:NRDY traded up $0.04 during midday trading on Monday, hitting $1.56. The company's stock had a trading volume of 1,809,503 shares, compared to its average volume of 1,286,967. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.28. The firm's 50 day moving average is $1.74 and its 200-day moving average is $1.35. The firm has a market cap of $281.39 million, a P/E ratio of -4.59 and a beta of 1.98.

Insider Activity

In other Nerdy news, insider Christopher C. Swenson sold 58,220 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.80, for a total transaction of $104,796.00. Following the completion of the transaction, the insider now directly owns 1,685,028 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, CEO Charles K. Cohn bought 2,000,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $1.99 per share, for a total transaction of $3,980,000.00. Following the transaction, the chief executive officer now owns 30,509,191 shares of the company's stock, valued at approximately $60,713,290.09. This trade represents a 7.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 3,026,758 shares of company stock worth $5,654,207 and sold 194,843 shares worth $344,177. Company insiders own 31.35% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in Nerdy by 330.4% during the 3rd quarter. Barclays PLC now owns 103,960 shares of the company's stock worth $102,000 after buying an additional 79,808 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Nerdy by 9.3% in the third 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 last quarter. State Street Corp increased its position in shares of Nerdy by 0.9% during the third quarter. State Street Corp now owns 1,253,663 shares of the company's stock worth $1,232,000 after purchasing an additional 11,721 shares in the last quarter. Franklin Resources Inc. raised its stake 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, Moloney Securities Asset Management LLC raised its stake in Nerdy by 53.4% in the 4th quarter. Moloney Securities Asset Management LLC now owns 28,725 shares of the company's stock valued at $47,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds 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.