Nerdy (NYSE:NRDY) Price Target Raised to $3.75 at The Goldman Sachs Group

Nerdy (NYSE:NRDY - Get Free Report) had its price target increased by research analysts at The Goldman Sachs Group from $3.25 to $3.75 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target points to a potential upside of 61.99% from the company's current price.

NRDY has been the subject of several other reports. JPMorgan Chase & Co. began coverage on Nerdy in a research report on Monday, March 11th. They set an "overweight" rating and a $5.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $4.00 target price on shares of Nerdy in a report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $4.82.

Nerdy Trading Down 4.3 %

Shares of NRDY stock traded down $0.10 during trading hours on Thursday, hitting $2.32. The company's stock had a trading volume of 1,055,613 shares, compared to its average volume of 1,121,891. The stock has a market cap of $402.14 million, a PE ratio of -5.74 and a beta of 1.90. Nerdy has a 12-month low of $1.92 and a 12-month high of $5.37. The company has a 50 day moving average of $2.79 and a 200 day moving average of $2.95.

Nerdy (NYSE:NRDY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $53.73 million for the quarter, compared to analyst estimates of $52.20 million. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The firm's revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.12) earnings per share. As a group, analysts anticipate that Nerdy will post -0.33 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Nerdy

A number of hedge funds have recently bought and sold shares of NRDY. Bank of New York Mellon Corp boosted its stake in Nerdy by 23.6% during the third quarter. Bank of New York Mellon Corp now owns 210,466 shares of the company's stock worth $779,000 after buying an additional 40,132 shares during the last quarter. Cutter & CO Brokerage Inc. acquired a new position in Nerdy in the third quarter valued at approximately $41,000. ACR Alpine Capital Research LLC grew its position in Nerdy by 7.9% in the third quarter. ACR Alpine Capital Research LLC now owns 708,318 shares of the company's stock worth $2,621,000 after acquiring an additional 51,672 shares during the period. L2 Asset Management LLC acquired a new stake in Nerdy during the third quarter worth $168,000. Finally, Aigen Investment Management LP purchased a new stake in Nerdy in the third quarter valued at $59,000. Institutional investors and hedge funds 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.