Nerdy (NYSE:NRDY – Free Report) had its price objective lowered by Barclays from $4.00 to $3.00 in a report published on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.
Several other research firms also recently commented on NRDY. The Goldman Sachs Group increased their price objective on shares of Nerdy from $3.25 to $3.75 and gave the company a neutral rating in a report on Thursday, May 9th. Northland Securities downgraded shares of Nerdy from an outperform rating to a market perform rating and dropped their price objective for the company from $5.00 to $3.00 in a report on Friday. Needham & Company LLC reissued a buy rating and set a $4.00 price objective on shares of Nerdy in a report on Friday, May 17th. JPMorgan Chase & Co. downgraded shares of Nerdy from an overweight rating to a neutral rating in a report on Friday. Finally, Raymond James downgraded shares of Nerdy from an outperform rating to a market perform rating in a report on Friday. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $3.58.
Read Our Latest Stock Report on Nerdy
Nerdy Stock Down 48.1 %
Insiders Place Their Bets
In other Nerdy news, CFO Jason H. Pello sold 37,360 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $2.07, for a total value of $77,335.20. Following the completion of the sale, the chief financial officer now owns 2,438,689 shares of the company’s stock, valued at $5,048,086.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Charles K. Cohn bought 353,000 shares of the stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $1.59 per share, for a total transaction of $561,270.00. Following the completion of the purchase, the chief executive officer now directly owns 353,000 shares in the company, valued at $561,270. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason H. Pello sold 37,360 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $2.07, for a total transaction of $77,335.20. Following the completion of the sale, the chief financial officer now owns 2,438,689 shares of the company’s stock, valued at $5,048,086.23. The disclosure for this sale can be found here. Insiders bought a total of 1,200,275 shares of company stock valued at $2,131,511 over the last 90 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 stock. SG Americas Securities LLC acquired a new stake in shares of Nerdy during the fourth quarter worth $50,000. Tower Research Capital LLC TRC lifted its position in Nerdy by 1,765.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock valued at $52,000 after purchasing an additional 14,244 shares during the period. nVerses Capital LLC acquired a new position in Nerdy during the second quarter valued at $34,000. Bayesian Capital Management LP acquired a new position in Nerdy during the first quarter valued at $101,000. Finally, Certuity LLC acquired a new position in Nerdy during the fourth quarter valued at $120,000. 39.10% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than Nerdy
- What does consumer price index measure?
- Why Wall Street Analysts Raised Price Targets for Suncor Stock
- The Role Economic Reports Play in a Successful Investment Strategy
- Is Super Micro Computer a Buy After Shares Sink 20% on Earnings?
- Low PE Growth Stocks: Unlocking Investment Opportunities
- MarketBeat Week in Review – 8/5 – 8/9
Receive News & Ratings for Nerdy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nerdy and related companies with MarketBeat.com's FREE daily email newsletter.