Nerdy (NYSE:NRDY) Price Target Raised to $1.50

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

NRDY has been the subject of several other research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1.00 price objective (down previously from $6.00) on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 price objective on shares of Nerdy in a research report on Friday, November 8th. Finally, Northland Securities lowered their price objective on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, November 8th. One investment 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’s stock. According to data from MarketBeat.com, Nerdy presently has an average rating of “Hold” and an average price target of $2.61.

Nerdy Stock Performance

NYSE NRDY opened at $1.59 on Monday. Nerdy has a one year low of $0.73 and a one year high of $3.28. The company’s 50 day moving average price is $1.73 and its 200 day moving average price is $1.36. The firm has a market capitalization of $285.90 million, a price-to-earnings ratio of -4.66 and a beta of 1.98.

Insider Transactions at Nerdy

In other Nerdy news, CEO Charles K. Cohn bought 2,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $1.99 per share, for a total transaction of $3,980,000.00. Following the completion of the purchase, the chief executive officer now directly owns 30,509,191 shares in the company, valued at approximately $60,713,290.09. This trade represents a 7.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason H. Pello sold 30,242 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $1.84, for a total transaction of $55,645.28. Following the sale, the chief financial officer now owns 2,225,186 shares of the company’s stock, valued at approximately $4,094,342.24. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 2,600,000 shares of company stock valued at $4,997,000 and sold 194,843 shares valued at $344,177. Corporate insiders own 31.35% of the company’s stock.

Institutional Trading of Nerdy

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd bought a new stake in Nerdy during the fourth quarter valued at $26,000. ProShare Advisors LLC increased its stake in Nerdy by 55.2% during the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock valued at $35,000 after purchasing an additional 7,594 shares during the last quarter. Virtu Financial LLC increased its stake in Nerdy by 59.1% during the fourth quarter. Virtu Financial LLC now owns 23,294 shares of the company’s stock valued at $38,000 after purchasing an additional 8,655 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Nerdy during the fourth quarter valued at $40,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Nerdy by 14,175.0% during the fourth quarter. Quantbot Technologies LP now owns 28,550 shares of the company’s stock valued at $46,000 after acquiring an additional 28,350 shares during the period. Institutional investors own 39.10% of the company’s stock.

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.