Nerdy (NYSE:NRDY) Stock Rating Lowered by Raymond James

Nerdy (NYSE:NRDY) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Friday, MarketBeat.com reports.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Nerdy in a research report on Friday, May 17th. The Goldman Sachs Group raised their price target on shares of Nerdy from $3.25 to $3.75 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nerdy presently has a consensus rating of “Hold” and an average price target of $3.58.

Nerdy Stock Performance

NYSE:NRDY traded down $0.76 during mid-day trading on Friday, hitting $0.83. 21,429,245 shares of the company’s stock traded hands, compared to its average volume of 987,102. The company has a fifty day moving average of $1.65 and a 200 day moving average of $2.36. Nerdy has a twelve month low of $0.82 and a twelve month high of $5.13. The company has a market capitalization of $145.09 million, a P/E ratio of -2.95 and a beta of 1.73.

Insider Transactions at Nerdy

In related news, CFO Jason H. Pello sold 37,360 shares of Nerdy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $2.07, for a total transaction of $77,335.20. Following the completion of the transaction, the chief financial officer now directly owns 2,438,689 shares in the company, valued at $5,048,086.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Nerdy news, CFO Jason H. Pello sold 37,360 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $2.07, for a total transaction of $77,335.20. Following the transaction, the chief financial officer now owns 2,438,689 shares in the company, valued at $5,048,086.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles K. Cohn bought 347,275 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $1.93 per share, with a total value of $670,240.75. Following the purchase, the chief executive officer now directly owns 2,117,526 shares of the company’s stock, valued at $4,086,825.18. The disclosure for this purchase can be found here. Insiders have purchased 1,200,275 shares of company stock worth $2,131,511 over the last quarter. 31.35% of the stock is currently owned by insiders.

Institutional Trading of Nerdy

Several large investors have recently bought and sold shares of NRDY. Rhumbline Advisers increased its stake in shares of Nerdy by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after acquiring an additional 8,834 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Nerdy by 1,765.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock valued at $52,000 after acquiring an additional 14,244 shares during the period. SG Americas Securities LLC acquired a new position in Nerdy during the fourth quarter worth $50,000. nVerses Capital LLC acquired a new position in Nerdy during the 2nd quarter worth about $34,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Nerdy in the first quarter valued at approximately $101,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.

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.