Nerdy, Inc. (NYSE:NRDY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nerdy, Inc. (NYSE:NRDY) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.71.

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Nerdy in a research report on Monday, March 11th. They set an “overweight” rating and a $5.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $4.00 target price on shares of Nerdy in a research report on Wednesday, February 28th.

Nerdy Stock Performance

Shares of NYSE:NRDY opened at $2.56 on Thursday. The company has a 50-day simple moving average of $2.83 and a 200-day simple moving average of $2.98. Nerdy has a one year low of $2.31 and a one year high of $5.37. The stock has a market capitalization of $444.71 million, a price-to-earnings ratio of -6.10 and a beta of 1.90.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. The firm had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $54.77 million. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) earnings per share. As a group, research analysts forecast that Nerdy will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nerdy news, insider Christopher C. Swenson sold 30,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $2.53, for a total transaction of $75,900.00. Following the transaction, the insider now owns 1,203,248 shares of the company’s stock, valued at $3,044,217.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Christopher C. Swenson sold 25,000 shares of Nerdy stock in a transaction on Monday, March 18th. The shares were sold at an average price of $2.96, for a total transaction of $74,000.00. Following the transaction, the insider now owns 1,233,248 shares in the company, valued at approximately $3,650,414.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher C. Swenson sold 30,000 shares of Nerdy stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $2.53, for a total transaction of $75,900.00. Following the transaction, the insider now owns 1,203,248 shares in the company, valued at approximately $3,044,217.44. The disclosure for this sale can be found here. Over the last quarter, 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 currently owned by insiders.

Hedge Funds Weigh In On Nerdy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Greenvale Capital LLP lifted 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 buying an additional 240,996 shares in the last quarter. S Squared Technology LLC lifted its holdings in Nerdy by 582.6% in the 4th quarter. S Squared Technology LLC now owns 204,786 shares of the company’s stock worth $702,000 after buying an additional 174,786 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Nerdy by 1,765.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock worth $52,000 after buying an additional 14,244 shares in the last quarter. ACR Alpine Capital Research LLC lifted its holdings in Nerdy by 16.2% in the 4th quarter. ACR Alpine Capital Research LLC now owns 822,972 shares of the company’s stock worth $2,823,000 after buying an additional 114,654 shares in the last quarter. Finally, Certuity LLC acquired a new position in Nerdy in the 4th quarter worth $120,000. Institutional investors and hedge funds own 39.10% of the company’s stock.

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.