Nerdy (NYSE:NRDY) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Nerdy (NYSE:NRDY) in a research note published on Friday morning, Marketbeat.com reports. The firm currently has a $1.00 price objective on the stock, down from their prior price objective of $6.00.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of Nerdy in a report on Friday. Raymond James lowered Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Northland Securities cut Nerdy from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $5.00 to $3.00 in a research report on Friday, August 9th. Finally, 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. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.86.

Nerdy Trading Down 7.3 %

NYSE:NRDY traded down $0.06 during trading hours on Friday, hitting $0.83. The stock had a trading volume of 3,654,546 shares, compared to its average volume of 1,183,026. The company has a market cap of $146.93 million, a PE ratio of -2.51 and a beta of 1.68. The business has a 50 day simple moving average of $0.97 and a two-hundred day simple moving average of $1.47. Nerdy has a 1-year low of $0.73 and a 1-year high of $3.60.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. The firm had revenue of $50.98 million for the quarter, compared to analysts’ expectations of $51.14 million. During the same quarter last year, the business posted ($0.07) EPS. Research analysts expect that Nerdy will post -0.48 EPS for the current fiscal year.

Insider Transactions at Nerdy

In other news, Director Abigail Blunt acquired 49,045 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the transaction, the director now directly owns 50,045 shares in the company, valued at $45,540.95. This represents a 4,900.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Charles K. Cohn acquired 10,993,192 shares of the stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $0.89 per share, with a total value of $9,783,940.88. Following the completion of the transaction, the chief executive officer now owns 13,110,718 shares in the company, valued at approximately $11,668,539.02. The trade was a 500.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Abigail Blunt bought 49,045 shares of Nerdy stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average price of $0.91 per share, with a total value of $44,630.95. Following the purchase, the director now directly owns 50,045 shares of the company’s stock, valued at approximately $45,540.95. This represents a 4,900.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 13,212,528 shares of company stock valued at $12,063,972. Company insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Nerdy in the 3rd quarter valued at $29,000. AM Investment Strategies LLC bought a new position in Nerdy in the 3rd quarter worth $29,000. nVerses Capital LLC bought a new position in Nerdy in the 2nd quarter worth $34,000. Bayesian Capital Management LP bought a new position in shares of Nerdy in the 1st quarter worth about $101,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Nerdy during the 3rd quarter valued at about $138,000. 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.