Analysts Set Nerdy, Inc. (NYSE:NRDY) Target Price at $2.86

Shares of Nerdy, Inc. (NYSE:NRDY) have earned an average recommendation of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $2.86.

Several equities analysts have recently weighed in on NRDY shares. Northland Securities reduced their price target on Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Cantor Fitzgerald reiterated a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Nerdy in a research report on Friday, November 8th. JMP Securities restated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 target price on shares of Nerdy in a report on Friday, November 8th.

Insiders Place Their Bets

In other news, CEO Charles K. Cohn acquired 2,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $1.99 per share, for a total transaction of $3,980,000.00. Following the acquisition, the chief executive officer now owns 30,509,191 shares of the company’s stock, valued at $60,713,290.09. This trade represents a 7.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason H. Pello sold 30,242 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $1.84, for a total value of $55,645.28. Following the transaction, the chief financial officer now owns 2,225,186 shares in the company, valued at $4,094,342.24. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 13,455,750 shares of company stock valued at $15,530,190 and sold 160,732 shares valued at $211,015. Corporate insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in Nerdy by 382.0% during the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock valued at $3,133,000 after acquiring an additional 1,486,910 shares during the period. Ritholtz Wealth Management bought a new stake in Nerdy in the third quarter valued at approximately $867,000. Cubist Systematic Strategies LLC boosted its stake in shares of Nerdy by 286.7% during the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock valued at $434,000 after purchasing an additional 192,635 shares during the period. Geode Capital Management LLC grew 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 worth $1,690,000 after purchasing an additional 145,575 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of Nerdy in the third quarter worth $138,000. 39.10% of the stock is currently owned by institutional investors.

Nerdy Stock Up 2.3 %

Shares of NYSE:NRDY opened at $1.98 on Friday. The company has a 50-day moving average price of $1.69 and a two-hundred day moving average price of $1.31. Nerdy has a twelve month low of $0.73 and a twelve month high of $3.60. The firm has a market capitalization of $356.25 million, a PE ratio of -5.81 and a beta of 1.98.

Nerdy (NYSE:NRDY) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.09. Nerdy had a negative net margin of 19.31% and a negative return on equity of 47.45%. The business had revenue of $37.53 million during the quarter, compared to analyst estimates of $36.63 million. During the same period in the previous year, the business earned ($0.13) EPS. Analysts anticipate that Nerdy will post -0.43 earnings per share for the current fiscal year.

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.