Nerdy, Inc. (NYSE:NRDY) Receives Average Recommendation of “Hold” from Analysts

Shares of Nerdy, Inc. (NYSE:NRDY) have been assigned an average rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $3.58.

Several research analysts recently issued reports on the company. Canaccord Genuity Group restated a “hold” rating and set a $3.00 price objective (down from $5.00) on shares of Nerdy in a research report on Friday, August 9th. JPMorgan Chase & Co. cut Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. Canaccord Genuity Group lowered Nerdy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Cantor Fitzgerald upgraded Nerdy to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Northland Securities lowered shares of Nerdy from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $5.00 to $3.00 in a report on Friday, August 9th.

Insider Activity

In related news, Director Abigail Blunt bought 49,045 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $0.91 per share, with a total value of $44,630.95. Following the completion of the transaction, the director now owns 50,045 shares of the company’s stock, valued at approximately $45,540.95. The trade was a 4,900.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Abigail Blunt acquired 49,045 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the acquisition, the director now directly owns 50,045 shares in the company, valued at approximately $45,540.95. This represents a 4,900.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason H. Pello sold 30,282 shares of Nerdy stock in a transaction on Monday, September 16th. The shares were sold at an average price of $0.99, for a total value of $29,979.18. Following the completion of the transaction, the chief financial officer now owns 2,325,918 shares in the company, valued at $2,302,658.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 13,212,528 shares of company stock valued at $12,063,972 in the last 90 days. 31.35% of the stock is currently owned by insiders.

Institutional Trading of Nerdy

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Nerdy in the third quarter valued at approximately $29,000. nVerses Capital LLC acquired a new stake in shares of Nerdy in the second quarter worth $34,000. Bayesian Capital Management LP acquired a new stake in shares of Nerdy in the first quarter worth $101,000. Rhumbline Advisers raised 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 valued at $142,000 after acquiring an additional 8,834 shares during the period. Finally, Algert Global LLC lifted its holdings in shares of Nerdy by 171.6% during the 2nd quarter. Algert Global LLC now owns 111,026 shares of the company’s stock valued at $185,000 after acquiring an additional 70,140 shares in the last quarter. Hedge funds and other institutional investors own 39.10% of the company’s stock.

Nerdy Stock Performance

Nerdy stock opened at $1.06 on Friday. The firm has a market capitalization of $186.24 million, a price-to-earnings ratio of -3.79 and a beta of 1.67. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.91. The stock’s fifty day moving average is $1.11 and its two-hundred day moving average is $1.79.

Nerdy (NYSE:NRDY) last posted its earnings results 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. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. The firm had revenue of $50.98 million during the quarter, compared to the consensus estimate of $51.14 million. During the same period last year, the firm posted ($0.07) EPS. As a group, sell-side analysts forecast that Nerdy will post -0.48 EPS for the current fiscal year.

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.