The Goldman Sachs Group Increases Nerdy (NYSE:NRDY) Price Target to $1.50

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

A number of other equities research analysts also recently weighed in on NRDY. Cantor Fitzgerald reissued a “neutral” rating and issued a $1.00 price target (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a report on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and issued a $2.00 price target on shares of Nerdy in a report on Friday, November 8th. Northland Securities cut their price target on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Friday, November 8th. Finally, JMP Securities reissued a “market perform” rating on shares of Nerdy in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.61.

Nerdy Stock Up 1.6 %

NRDY stock opened at $1.59 on Monday. The company has a market capitalization of $285.90 million, a P/E ratio of -4.66 and a beta of 1.98. The company has a 50-day simple moving average of $1.73 and a 200 day simple moving average of $1.36. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.28.

Insiders Place Their Bets

In other Nerdy news, CEO Charles K. Cohn bought 2,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were bought at an average price of $1.99 per share, for a total transaction of $3,980,000.00. Following the acquisition, the chief executive officer now directly owns 30,509,191 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher C. Swenson sold 25,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $1.49, for a total value of $37,250.00. Following the completion of the transaction, the insider now owns 1,743,248 shares in the company, valued at $2,597,439.52. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 2,600,000 shares of company stock worth $4,997,000 and have sold 194,843 shares worth $344,177. Corporate insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

A number of large investors have recently made changes to their positions in the business. Soviero Asset Management LP acquired a new position in shares of Nerdy in the 4th quarter valued at about $243,000. ProShare Advisors LLC increased its holdings in Nerdy by 55.2% in the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock worth $35,000 after buying an additional 7,594 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Nerdy by 99.5% in the fourth quarter. Nuveen Asset Management LLC now owns 410,523 shares of the company’s stock worth $665,000 after buying an additional 204,760 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Nerdy in the fourth quarter worth approximately $150,000. Finally, Bank of America Corp DE increased its holdings in Nerdy by 41.9% in the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company’s stock worth $98,000 after buying an additional 17,889 shares during the last quarter. Institutional investors and hedge funds 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.