Nerdy, Inc. (NYSE:NRDY) Receives Consensus Rating of “Hold” from Analysts

Shares of Nerdy, Inc. (NYSE:NRDY) have earned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.86.

A number of research firms have commented on NRDY. JMP Securities restated a “market perform” rating on shares of Nerdy in a research report on Friday, November 8th. Northland Securities reduced their price objective on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 target price on shares of Nerdy in a research report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $1.00 price objective (down from $6.00) on shares of Nerdy in a report on Friday, November 8th.

Nerdy Trading Down 0.8 %

Nerdy stock opened at $1.83 on Friday. The company has a 50-day moving average price of $1.66 and a 200 day moving average price of $1.31. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60. The stock has a market cap of $329.19 million, a P/E ratio of -5.37 and a beta of 1.96.

Nerdy (NYSE:NRDY) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.09. Nerdy had a negative net margin of 19.31% and a negative return on equity of 47.45%. The business had revenue of $37.53 million during the quarter, compared to the consensus estimate of $36.63 million. During the same quarter last year, the firm earned ($0.13) EPS. As a group, analysts forecast that Nerdy will post -0.43 EPS for the current year.

Insider Buying and Selling

In related news, CEO Charles K. Cohn acquired 8,338,206 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average price of $0.90 per share, for a total transaction of $7,504,385.40. Following the purchase, the chief executive officer now owns 20,948,924 shares of the company’s stock, valued at $18,854,031.60. This represents a 66.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason H. Pello sold 70,490 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1.06, for a total transaction of $74,719.40. Following the completion of the sale, the chief financial officer now directly owns 2,255,428 shares in the company, valued at approximately $2,390,753.68. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 13,455,750 shares of company stock valued at $15,530,190 and have sold 160,732 shares valued at $211,015. 31.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in shares of Nerdy by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company’s stock valued at $4,224,000 after purchasing an additional 79,624 shares during the period. Millennium Management LLC raised its position in Nerdy by 382.0% during the 2nd quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock worth $3,133,000 after buying an additional 1,486,910 shares during the last quarter. Geode Capital Management LLC raised its holdings in Nerdy by 9.3% during the third quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company’s stock worth $1,690,000 after purchasing an additional 145,575 shares in the last quarter. State Street Corp lifted its holdings in shares of Nerdy by 0.9% in the 3rd quarter. State Street Corp now owns 1,253,663 shares of the company’s stock valued at $1,232,000 after buying an additional 11,721 shares during the period. Finally, Ritholtz Wealth Management purchased a new stake in shares of Nerdy during the 3rd quarter worth $867,000. Hedge funds and other 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.