Cantor Fitzgerald Upgrades Nerdy (NYSE:NRDY) to “Strong-Buy”

Nerdy (NYSE:NRDY) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Nerdy from $3.25 to $3.75 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. JMP Securities reduced their price target on shares of Nerdy from $5.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Raymond James cut shares of Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Needham & Company LLC cut their target price on Nerdy from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $3.00 target price (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.58.

Nerdy Trading Down 0.6 %

Shares of NRDY stock opened at $0.87 on Tuesday. Nerdy has a 1 year low of $0.73 and a 1 year high of $5.13. The stock has a 50 day simple moving average of $1.61 and a 200 day simple moving average of $2.31.

Nerdy (NYSE:NRDY) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. The firm had revenue of $50.98 million during the quarter, compared to analysts’ expectations of $51.14 million. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. During the same period in the previous year, the firm earned ($0.07) EPS. On average, equities research analysts expect that Nerdy will post -0.31 earnings per share for the current year.

Insider Transactions at Nerdy

In other news, CEO Charles K. Cohn acquired 353,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $1.59 per share, with a total value of $561,270.00. Following the acquisition, the chief executive officer now directly owns 353,000 shares in the company, valued at approximately $561,270. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Charles K. Cohn bought 353,000 shares of the stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $1.59 per share, with a total value of $561,270.00. Following the acquisition, the chief executive officer now directly owns 353,000 shares in the company, valued at $561,270. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles K. Cohn bought 347,275 shares of the company’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $1.93 per share, with a total value of $670,240.75. Following the completion of the transaction, the chief executive officer now directly owns 2,117,526 shares of the company’s stock, valued at approximately $4,086,825.18. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,200,275 shares of company stock worth $2,131,511. Corporate insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Nerdy in the 4th quarter valued at approximately $50,000. Certuity LLC acquired a new position in shares of Nerdy during the fourth quarter worth $120,000. ACR Alpine Capital Research LLC grew its stake in shares of Nerdy by 16.2% in the fourth quarter. ACR Alpine Capital Research LLC now owns 822,972 shares of the company’s stock worth $2,823,000 after purchasing an additional 114,654 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Nerdy by 1,765.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock valued at $52,000 after purchasing an additional 14,244 shares during the period. Finally, S Squared Technology LLC increased its holdings in Nerdy by 582.6% in the fourth quarter. S Squared Technology LLC now owns 204,786 shares of the company’s stock valued at $702,000 after purchasing an additional 174,786 shares during the period. 39.10% of the stock is currently 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.