Nerdy, Inc. (NYSE:NRDY) Receives Consensus Recommendation of “Hold” from Analysts

Nerdy, Inc. (NYSE:NRDY) has been given a consensus rating of “Hold” by the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $2.86.

NRDY has been the topic of several analyst reports. Barclays cut their price target on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Canaccord Genuity Group lowered shares of Nerdy from a “buy” rating to a “hold” rating and lowered their target price for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Northland Securities dropped their price objective on Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Canaccord Genuity Group reissued a “hold” rating and set a $3.00 target price (down previously from $5.00) on shares of Nerdy in a research report on Friday, August 9th. Finally, Raymond James downgraded Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th.

Nerdy Stock Performance

NYSE:NRDY opened at $1.40 on Monday. The stock’s fifty day moving average is $0.99 and its 200 day moving average is $1.34. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60.

Insider Buying and Selling at Nerdy

In related news, CEO Charles K. Cohn purchased 8,338,206 shares of Nerdy stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average cost of $0.90 per share, for a total transaction of $7,504,385.40. Following the completion of the transaction, the chief executive officer now owns 20,948,924 shares in the company, valued at $18,854,031.60. The trade was a 66.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jason H. Pello sold 30,282 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $0.99, for a total value of $29,979.18. Following the completion of the sale, the chief financial officer now owns 2,325,918 shares in the company, valued at approximately $2,302,658.82. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 10,138,408 shares of company stock worth $9,428,774 and have sold 135,772 shares worth $148,099. Company insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

Several institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management acquired a new stake in Nerdy during the third quarter valued at $867,000. Vanguard Group Inc. grew its position in shares of Nerdy by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after acquiring an additional 88,771 shares during the period. Greenvale Capital LLP grew its position in shares of Nerdy by 6.0% during the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock valued at $15,030,000 after acquiring an additional 509,004 shares during the period. SG Americas Securities LLC purchased a new position in shares of Nerdy in the 3rd quarter valued at about $29,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Nerdy by 286.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock worth $434,000 after purchasing an additional 192,635 shares during the period. 39.10% of the stock is owned by hedge funds and other institutional investors.

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.