Brokerages Set Nerdy, Inc. (NYSE:NRDY) PT at $2.31

Shares of Nerdy, Inc. (NYSE:NRDY) have received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $2.31.

Separately, The Goldman Sachs Group upped their target price on Nerdy from $1.00 to $1.50 and gave the company a “neutral” rating in a report on Monday, March 3rd.

Insider Buying and Selling

In other Nerdy news, insider Christopher C. Swenson sold 53,514 shares of Nerdy stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $1.67, for a total transaction of $89,368.38. Following the completion of the sale, the insider now directly owns 1,612,388 shares in the company, valued at $2,692,687.96. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason H. Pello sold 31,877 shares of Nerdy stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $1.54, for a total transaction of $49,090.58. Following the sale, the chief financial officer now owns 2,036,928 shares of the company’s stock, valued at approximately $3,136,869.12. This represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 256,311 shares of company stock worth $409,409. Company insiders own 50.94% of the company’s stock.

Hedge Funds Weigh In On Nerdy

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Nerdy by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,750,860 shares of the company’s stock valued at $2,837,000 after purchasing an additional 32,213 shares during the period. Northern Trust Corp grew its stake in shares of Nerdy by 12.2% in the fourth quarter. Northern Trust Corp now owns 684,590 shares of the company’s stock valued at $1,109,000 after buying an additional 74,233 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Nerdy in the first quarter valued at $649,000. Nuveen Asset Management LLC raised its holdings in shares of 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 period. Finally, Nuveen LLC acquired a new position in Nerdy during the 1st quarter worth about $508,000. 39.10% of the stock is currently owned by institutional investors and hedge funds.

Nerdy Trading Down 4.0%

Shares of NYSE NRDY opened at $1.56 on Friday. The stock has a market cap of $283.71 million, a PE ratio of -4.57 and a beta of 1.92. Nerdy has a 12-month low of $0.73 and a 12-month high of $2.18. The company has a 50-day moving average of $1.54 and a 200 day moving average of $1.56.

Nerdy (NYSE:NRDY) last issued its earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The business had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $46.22 million. Nerdy had a negative return on equity of 47.45% and a negative net margin of 19.31%. On average, sell-side analysts forecast that Nerdy will post -0.43 EPS 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.