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

Nerdy, Inc. (NYSE:NRDY - Get Free Report) has been given an average recommendation of "Hold" by the eleven analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $2.86.

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

Insider Transactions at Nerdy

In related news, CFO Jason H. Pello sold 70,490 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1.06, for a total value of $74,719.40. Following the transaction, the chief financial officer now directly owns 2,255,428 shares in the company, valued at approximately $2,390,753.68. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles K. Cohn bought 208,726 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $181,591.62. Following the completion of the acquisition, the chief executive officer now directly owns 21,157,650 shares of the company's stock, valued at approximately $18,407,155.50. This trade represents a 1.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 13,455,750 shares of company stock worth $15,530,190 and sold 160,732 shares worth $211,015. 31.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nerdy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Greenvale Capital LLP raised its position in shares of Nerdy by 6.0% in the 2nd 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 in the last quarter. Franklin Resources Inc. raised its position in Nerdy by 2.0% during the third 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 in the last quarter. Marshall Wace LLP lifted its stake in Nerdy by 12.9% during the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company's stock worth $3,274,000 after purchasing an additional 224,049 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Nerdy by 382.0% in the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company's stock valued at $3,133,000 after purchasing an additional 1,486,910 shares in the last quarter. Finally, Clearline Capital LP increased its stake in shares of Nerdy by 34.3% in the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company's stock valued at $3,084,000 after purchasing an additional 471,603 shares during the last quarter. Institutional investors own 39.10% of the company's stock.

Nerdy Stock Performance

NRDY traded down $0.14 during midday trading on Tuesday, reaching $1.80. 1,801,367 shares of the company were exchanged, compared to its average volume of 1,907,188. The stock has a market capitalization of $324.90 million, a P/E ratio of -5.30 and a beta of 1.96. The stock's 50-day simple moving average is $1.38 and its 200 day simple moving average is $1.30. Nerdy has a one year low of $0.73 and a one year high of $3.60.

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.