Nerdy (NYSE:NRDY) Posts Earnings Results, Beats Estimates By $0.04 EPS

Nerdy (NYSE:NRDY) posted its quarterly earnings results on Tuesday. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04, Briefing.com reports. The company had revenue of $53.73 million during the quarter, compared to analysts’ expectations of $52.20 million. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) EPS.

Nerdy Stock Down 7.2 %

Shares of NYSE:NRDY traded down $0.19 during midday trading on Wednesday, reaching $2.46. The company’s stock had a trading volume of 4,464,256 shares, compared to its average volume of 1,112,004. The business has a 50 day moving average price of $2.79 and a 200 day moving average price of $2.96. Nerdy has a 1 year low of $1.92 and a 1 year high of $5.37. The firm has a market cap of $427.33 million, a price-to-earnings ratio of -5.29 and a beta of 1.90.

Insider Transactions at Nerdy

In related news, CEO Charles K. Cohn acquired 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, with a total value of $195,814.08. Following the purchase, the chief executive officer now directly owns 10,855,579 shares of the company’s stock, valued at $31,264,067.52. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Charles K. Cohn bought 67,991 shares of the stock in a transaction dated Monday, March 11th. The stock was acquired at an average price of $2.88 per share, for a total transaction of $195,814.08. Following the completion of the purchase, the chief executive officer now owns 10,855,579 shares in the company, valued at $31,264,067.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher C. Swenson sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $2.96, for a total value of $74,000.00. Following the transaction, the insider now directly owns 1,233,248 shares in the company, valued at $3,650,414.08. The disclosure for this sale can be found here. In the last three months, insiders have purchased 217,991 shares of company stock worth $629,314 and have sold 126,091 shares worth $370,371. Insiders own 31.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price target on shares of Nerdy in a research note on Wednesday. JPMorgan Chase & Co. started coverage on shares of Nerdy in a research note on Monday, March 11th. They set an “overweight” rating and a $5.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.71.

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.