Nerdy, Inc. (NYSE:NRDY) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Nerdy, Inc. (NYSE:NRDY - Get Free Report) have earned an average recommendation of "Hold" from the eleven ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $2.86.

NRDY has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of Nerdy from a "neutral" rating to an "underweight" rating in a research note on Monday, November 11th. Northland Capmk downgraded shares of Nerdy from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 9th. JMP Securities restated a "market perform" rating on shares of Nerdy in a research note on Friday, November 8th. Raymond James downgraded shares of Nerdy from an "outperform" rating to a "market perform" rating in a research note on Friday, August 9th. Finally, Northland Securities lowered their target price on shares of Nerdy from $3.00 to $2.00 and set a "market perform" rating for the company in a research note on Friday, November 8th.

Insider Activity at Nerdy

In related news, Director Abigail Blunt purchased 49,045 shares of Nerdy stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average cost of $0.91 per share, with a total value of $44,630.95. Following the completion of the transaction, the director now directly owns 50,045 shares in the company, valued at approximately $45,540.95. The trade was a 4,904.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason H. Pello sold 30,282 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $0.99, for a total transaction of $29,979.18. Following the completion of the sale, the chief financial officer now directly owns 2,325,918 shares of the company's stock, valued at approximately $2,302,658.82. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 8,595,977 shares of company stock valued at $7,730,608 over the last ninety days. Insiders own 31.35% of the company's stock.

Institutional Investors Weigh In On Nerdy

Institutional investors and hedge funds have recently made changes to their positions in the business. Ritholtz Wealth Management purchased a new stake in shares of Nerdy in the third quarter valued at about $867,000. Vanguard Group Inc. raised its holdings in shares of Nerdy by 2.9% in the first quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company's stock valued at $9,025,000 after buying an additional 88,771 shares during the last quarter. Greenvale Capital LLP raised its holdings in shares of Nerdy by 6.0% in the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company's stock valued at $15,030,000 after buying an additional 509,004 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Nerdy in the third quarter valued at about $29,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Nerdy by 286.7% in the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company's stock valued at $434,000 after buying an additional 192,635 shares during the last quarter. 39.10% of the stock is owned by hedge funds and other institutional investors.

Nerdy Stock Performance

Shares of NYSE:NRDY traded up $0.05 during trading on Monday, hitting $1.01. The company's stock had a trading volume of 2,591,460 shares, compared to its average volume of 1,629,564. The business has a 50 day moving average price of $0.96 and a two-hundred day moving average price of $1.39. The company has a market capitalization of $178.94 million, a PE ratio of -2.81 and a beta of 1.68. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60.

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.