Nerdy, Inc. (NYSE:NRDY – Get Free Report) has received a consensus rating of “Hold” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $3.58.
A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group restated a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Barclays dropped their target price on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Needham & Company LLC dropped their target price on shares of Nerdy from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JMP Securities dropped their target price on shares of Nerdy from $5.00 to $3.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Finally, Canaccord Genuity Group downgraded shares of Nerdy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $5.00 to $3.00 in a report on Friday, August 9th.
Nerdy Trading Down 1.0 %
Nerdy (NYSE:NRDY – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $50.98 million for the quarter, compared to the consensus estimate of $51.14 million. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. During the same quarter last year, the firm earned ($0.07) EPS. On average, equities research analysts predict that Nerdy will post -0.48 earnings per share for the current year.
Insider Transactions at Nerdy
In related news, Director Abigail Blunt acquired 49,045 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average price of $0.91 per share, for a total transaction of $44,630.95. Following the acquisition, the director now owns 50,045 shares in the company, valued at approximately $45,540.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Nerdy news, CEO Charles K. Cohn bought 10,993,192 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $0.89 per share, for a total transaction of $9,783,940.88. Following the transaction, the chief executive officer now owns 13,110,718 shares in the company, valued at $11,668,539.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Abigail Blunt bought 49,045 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average price of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the transaction, the director now owns 50,045 shares in the company, valued at approximately $45,540.95. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 13,212,528 shares of company stock worth $12,063,972. 31.35% of the stock is currently owned by company insiders.
Institutional Trading of Nerdy
Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in Nerdy by 11.6% in the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after buying an additional 8,834 shares in the last quarter. nVerses Capital LLC acquired a new position in Nerdy in the second quarter valued at about $34,000. SG Americas Securities LLC acquired a new position in Nerdy in the third quarter valued at about $29,000. Bayesian Capital Management LP acquired a new position in Nerdy in the first quarter valued at about $101,000. Finally, ACR Alpine Capital Research LLC boosted its position in Nerdy by 4.1% in the second quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock valued at $1,656,000 after buying an additional 39,270 shares in the last quarter. 39.10% of the stock is currently owned by institutional investors and hedge funds.
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.
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