Nerdy (NYSE:NRDY) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Nerdy (NYSE:NRDY) in a report released on Wednesday, Benzinga reports. The firm currently has a $4.00 target price on the stock.

Separately, JPMorgan Chase & Co. initiated coverage on Nerdy in a research note on Monday, March 11th. They issued an overweight rating and a $5.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $4.82.

Nerdy Stock Down 1.2 %

Shares of NRDY traded down $0.03 during mid-day trading on Wednesday, hitting $2.39. The company had a trading volume of 32,706 shares, compared to its average volume of 1,110,256. The business’s 50-day simple moving average is $2.79 and its 200-day simple moving average is $2.95. The stock has a market cap of $415.17 million, a PE ratio of -5.74 and a beta of 1.90. Nerdy has a 1-year low of $1.92 and a 1-year high of $5.37.

Nerdy (NYSE:NRDY) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The firm had revenue of $53.73 million during the quarter, compared to analyst estimates of $52.20 million. During the same quarter in the prior year, the firm posted ($0.12) EPS. Nerdy’s revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts expect that Nerdy will post -0.33 earnings per share for the current year.

Insider Activity

In other Nerdy news, CEO Charles K. Cohn bought 67,991 shares of Nerdy stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $2.88 per share, with a total value of $195,814.08. Following the purchase, the chief executive officer now owns 10,855,579 shares of the company’s stock, valued at $31,264,067.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Charles K. Cohn purchased 67,991 shares of the stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $2.88 per share, for a total transaction of $195,814.08. Following the completion of the acquisition, the chief executive officer now owns 10,855,579 shares of the company’s stock, valued at $31,264,067.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles K. Cohn purchased 75,000 shares of Nerdy stock in a transaction on Wednesday, March 13th. The stock was bought at an average price of $2.79 per share, with a total value of $209,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 185,704 shares of the company’s stock, valued at approximately $518,114.16. The disclosure for this purchase can be found here. In the last three months, insiders bought 217,991 shares of company stock worth $629,314 and sold 126,091 shares worth $370,371. 31.35% of the stock is owned by corporate insiders.

Institutional Trading of Nerdy

A number of institutional investors have recently made changes to their positions in NRDY. Greenvale Capital LLP boosted its position in shares of Nerdy by 2.9% in the 4th quarter. Greenvale Capital LLP now owns 8,490,996 shares of the company’s stock worth $29,124,000 after purchasing an additional 240,996 shares in the last quarter. Kent Lake Capital LLC increased its position in shares of Nerdy by 9.4% during the third quarter. Kent Lake Capital LLC now owns 2,784,572 shares of the company’s stock worth $10,303,000 after acquiring an additional 238,793 shares during the period. ACR Alpine Capital Research LLC lifted its position in Nerdy by 15.7% in the first quarter. ACR Alpine Capital Research LLC now owns 952,062 shares of the company’s stock valued at $2,770,000 after acquiring an additional 129,090 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Nerdy in the 3rd quarter valued at $2,387,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Nerdy by 24.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the company’s stock worth $2,220,000 after buying an additional 116,700 shares during the last quarter. Hedge funds and other institutional investors 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.