The Goldman Sachs Group Increases Nerdy (NYSE:NRDY) Price Target to $1.50

Nerdy (NYSE:NRDY - Free Report) had its price target increased by The Goldman Sachs Group from $1.00 to $1.50 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Cantor Fitzgerald reiterated a "neutral" rating and set a $1.00 price objective (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th. Northland Securities decreased their price target on 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 reissued a "buy" rating and issued a $2.00 price objective on shares of Nerdy in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered Nerdy from a "neutral" rating to an "underweight" rating in a research report on Monday, November 11th. Finally, JMP Securities reiterated a "market perform" rating on shares of Nerdy in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $2.61.

Nerdy Trading Up 2.6 %

NRDY stock traded up $0.04 during trading on Monday, hitting $1.56. The company had a trading volume of 1,809,503 shares, compared to its average volume of 1,286,967. The stock has a market cap of $281.39 million, a PE ratio of -4.59 and a beta of 1.98. The business has a 50-day moving average of $1.74 and a 200-day moving average of $1.35. Nerdy has a one year low of $0.73 and a one year high of $3.28.

Insider Transactions at Nerdy

In other news, insider Christopher C. Swenson sold 25,000 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $1.49, for a total transaction of $37,250.00. Following the completion of the sale, the insider now directly owns 1,743,248 shares of the company's stock, valued at $2,597,439.52. The trade was a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles K. Cohn bought 2,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of $1.99 per share, for a total transaction of $3,980,000.00. Following the acquisition, the chief executive officer now directly owns 30,509,191 shares in the company, valued at $60,713,290.09. The trade was a 7.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 3,026,758 shares of company stock valued at $5,654,207 and have sold 194,843 shares valued at $344,177. 31.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC raised its position in Nerdy by 99.5% in the 4th quarter. Nuveen Asset Management LLC now owns 410,523 shares of the company's stock valued at $665,000 after buying an additional 204,760 shares during the last quarter. Soviero Asset Management LP purchased a new stake in shares of Nerdy in the fourth quarter valued at about $243,000. Geode Capital Management LLC raised its holdings 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 valued at $1,690,000 after purchasing an additional 145,575 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Nerdy during the third quarter valued at about $138,000. Finally, Sargent Investment Group LLC purchased a new position in Nerdy during the fourth quarter worth about $153,000. Hedge funds and other institutional investors 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.