Nerdy (NYSE:NRDY) Sets New 12-Month Low – Here’s Why

Shares of Nerdy Inc. (NYSE:NRDY) reached a new 52-week low on Wednesday . The company traded as low as $9.15 and last traded at $10.8960, with a volume of 7923 shares. The stock had previously closed at $9.8085.

Analyst Upgrades and Downgrades

NRDY has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nerdy in a report on Friday, July 17th. Wall Street Zen downgraded shares of Nerdy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Nerdy presently has a consensus rating of “Reduce” and a consensus target price of $15.00.

Nerdy Stock Down 1.9%

The firm’s 50-day simple moving average is $12.75 and its 200 day simple moving average is $13.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.70 and a current ratio of 2.70. The company has a market cap of $126.65 million, a P/E ratio of -2.64 and a beta of 1.73.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.15. The business had revenue of $43.23 million for the quarter, compared to analyst estimates of $43.00 million. Nerdy had a negative return on equity of 100.13% and a negative net margin of 16.99%. On average, research analysts forecast that Nerdy Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Transactions at Nerdy

In related news, CEO Charles K. Cohn bought 17,213 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $14.55 per share, for a total transaction of $250,449.15. Following the transaction, the chief executive officer owned 31,814 shares of the company’s stock, valued at $462,893.70. This represents a 117.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 65,219 shares of company stock worth $950,828 in the last quarter. 50.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nerdy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Nerdy by 170.7% during the third quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after acquiring an additional 150,000 shares during the period. Marshall Wace LLP acquired a new position in Nerdy in the 2nd quarter worth $221,000. Bridgeway Capital Management LLC boosted its stake in Nerdy by 62.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after purchasing an additional 102,400 shares during the period. Bank of America Corp DE increased its holdings in Nerdy by 236.2% during the 2nd quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock worth $201,000 after purchasing an additional 86,791 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Nerdy during the 4th quarter worth about $78,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

Nerdy Company Profile

Nerdy, Inc (NYSE:NRDY) is an American education technology company that operates a live online learning marketplace. Through its flagship Varsity Tutors platform, the company connects students, professionals and lifelong learners with a network of thousands of educators for personalized one-on-one tutoring, group classes and test preparation. The platform leverages proprietary matching algorithms to pair learners with instructors based on subject expertise, learning style and scheduling preferences.

Founded in 2007 by entrepreneur Chuck Cohn, Nerdy began as Varsity Tutors in Washington, DC, before establishing its headquarters in St.