Nerdy (NYSE:NRDY) Price Target Cut to $2.00 by Analysts at Northland Securities

Nerdy (NYSE:NRDY) had its price target reduced by Northland Securities from $3.00 to $2.00 in a report published on Friday,Benzinga reports. Northland Securities currently has a market perform rating on the stock.

A number of other research analysts also recently weighed in on NRDY. Canaccord Genuity Group reiterated a “hold” rating and issued a $3.00 price objective (down previously from $5.00) on shares of Nerdy in a research report on Friday, August 9th. JMP Securities reissued a “market perform” rating on shares of Nerdy in a report on Friday. Northland Capmk downgraded shares of Nerdy from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and cut their target price for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 price target on shares of Nerdy in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.86.

Nerdy Trading Up 7.8 %

Nerdy stock opened at $0.89 on Friday. The firm has a market cap of $158.39 million, a PE ratio of -2.62 and a beta of 1.68. The stock’s 50 day simple moving average is $0.97 and its two-hundred day simple moving average is $1.44. Nerdy has a 12 month low of $0.73 and a 12 month high of $3.60.

Insider Activity

In other news, CFO Jason H. Pello sold 50,903 shares of Nerdy stock in a transaction on Friday, August 16th. The stock was sold at an average price of $0.85, for a total transaction of $43,267.55. Following the transaction, the chief financial officer now owns 2,356,200 shares in the company, valued at $2,002,770. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Jason H. Pello sold 50,903 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the sale, the chief financial officer now owns 2,356,200 shares in the company, valued at $2,002,770. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason H. Pello sold 30,282 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $0.99, for a total value of $29,979.18. Following the completion of the transaction, the chief financial officer now owns 2,325,918 shares in the company, valued at $2,302,658.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 13,212,528 shares of company stock worth $12,063,972 over the last ninety days. Corporate insiders own 31.35% of the company’s stock.

Institutional Trading of Nerdy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI purchased a new position in Nerdy during the third quarter worth about $138,000. AM Investment Strategies LLC acquired a new position in shares of Nerdy in the 3rd quarter worth approximately $29,000. Ritholtz Wealth Management acquired a new stake in Nerdy in the 3rd quarter valued at approximately $867,000. SG Americas Securities LLC purchased a new stake in Nerdy in the third quarter valued at approximately $29,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Nerdy by 286.7% during the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock worth $434,000 after purchasing an additional 192,635 shares in the last quarter. 39.10% of the stock is 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.