Analysts Set Nerdy, Inc. (NYSE:NRDY) Price Target at $4.71

Nerdy, Inc. (NYSE:NRDY) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.71.

A number of equities analysts have issued reports on NRDY shares. Needham & Company LLC restated a “buy” rating and set a $4.00 price target on shares of Nerdy in a report on Wednesday. JPMorgan Chase & Co. initiated coverage on shares of Nerdy in a report on Monday, March 11th. They set an “overweight” rating and a $5.00 price objective on the stock.

Nerdy Stock Performance

NRDY stock opened at $2.41 on Thursday. Nerdy has a 52-week low of $1.92 and a 52-week high of $5.37. The company has a market capitalization of $418.64 million, a P/E ratio of -5.74 and a beta of 1.90. The company has a fifty day moving average price of $2.79 and a 200-day moving average price of $2.96.

Nerdy (NYSE:NRDY) last announced its earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. The business had revenue of $53.73 million for the quarter, compared to analysts’ expectations of $52.20 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts forecast that Nerdy will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Nerdy

In other news, insider Christopher C. Swenson sold 30,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $2.53, for a total value of $75,900.00. Following the completion of the sale, the insider now owns 1,203,248 shares in the company, valued at approximately $3,044,217.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Christopher C. Swenson sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $2.53, for a total value of $75,900.00. Following the completion of the transaction, the insider now directly owns 1,203,248 shares of the company’s stock, valued at $3,044,217.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles K. Cohn purchased 67,991 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $2.88 per share, for a total transaction of $195,814.08. Following the completion of the acquisition, the chief executive officer now directly owns 10,855,579 shares of the company’s stock, valued at approximately $31,264,067.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 217,991 shares of company stock valued at $629,314 and have sold 126,091 shares valued at $370,371. 31.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ACR Alpine Capital Research LLC lifted its stake in Nerdy by 15.7% in the first quarter. ACR Alpine Capital Research LLC now owns 952,062 shares of the company’s stock valued at $2,770,000 after purchasing an additional 129,090 shares during the last quarter. Greenvale Capital LLP increased its holdings in Nerdy by 2.9% in the 4th quarter. Greenvale Capital LLP now owns 8,490,996 shares of the company’s stock worth $29,124,000 after acquiring an additional 240,996 shares during the last quarter. S Squared Technology LLC raised its stake in Nerdy by 582.6% in the 4th quarter. S Squared Technology LLC now owns 204,786 shares of the company’s stock valued at $702,000 after acquiring an additional 174,786 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Nerdy by 1,765.1% during 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 last quarter. Finally, Certuity LLC bought a new position in Nerdy during the fourth quarter worth about $120,000. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

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.