Brokerages Set Nerdy, Inc. (NYSE:NRDY) Target Price at $4.71

Nerdy, Inc. (NYSE:NRDY) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.71.

Several brokerages recently weighed in on NRDY. JPMorgan Chase & Co. began coverage on Nerdy in a research report on Monday, March 11th. They issued an “overweight” rating and a $5.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price objective on shares of Nerdy in a research report on Wednesday, February 28th.

Insiders Place Their Bets

In other Nerdy news, insider Christopher C. Swenson sold 30,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $2.53, for a total transaction of $75,900.00. Following the transaction, the insider now directly owns 1,203,248 shares in the company, valued at $3,044,217.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christopher C. Swenson sold 30,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $2.53, for a total value of $75,900.00. Following the sale, the insider now directly owns 1,203,248 shares in the company, valued at $3,044,217.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jason H. Pello sold 41,896 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $3.13, for a total value of $131,134.48. Following the completion of the sale, the chief financial officer now owns 1,505,244 shares in the company, valued at $4,711,413.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 217,991 shares of company stock worth $629,314 and have sold 126,091 shares worth $370,371. 31.35% of the stock is owned by insiders.

Institutional Trading of Nerdy

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Nerdy in the fourth quarter valued at $50,000. Aigen Investment Management LP acquired a new stake in Nerdy in the third quarter valued at $59,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Nerdy by 24.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the company’s stock valued at $2,220,000 after buying an additional 116,700 shares in the last quarter. L2 Asset Management LLC purchased a new position in shares of Nerdy during the third quarter worth about $168,000. Finally, Cutter & CO Brokerage Inc. purchased a new position in shares of Nerdy during the third quarter worth about $41,000. 39.10% of the stock is currently owned by institutional investors and hedge funds.

Nerdy Price Performance

NRDY stock opened at $2.66 on Thursday. The business has a 50 day simple moving average of $2.81 and a 200-day simple moving average of $2.97. The firm has a market capitalization of $462.07 million, a PE ratio of -6.33 and a beta of 1.90. Nerdy has a 1 year low of $2.31 and a 1 year high of $5.37.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The business had revenue of $55.10 million during the quarter, compared to analyst estimates of $54.77 million. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. The business’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) earnings per share. On average, equities research analysts expect that Nerdy will post -0.33 EPS for the current year.

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.