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

Shares of Nerdy, Inc. (NYSE:NRDY) have been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $2.86.

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

Insider Activity at Nerdy

In related news, CFO Jason H. Pello sold 70,490 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was 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 of the company’s stock, valued at approximately $2,390,753.68. This trade represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles K. Cohn acquired 2,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $1.99 per share, for a total transaction of $3,980,000.00. Following the transaction, the chief executive officer now owns 30,509,191 shares of the company’s stock, valued at approximately $60,713,290.09. The trade was a 7.02 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 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 Investors Weigh In On Nerdy

A number of hedge funds have recently made changes to their positions in NRDY. Cubist Systematic Strategies LLC grew its position in Nerdy by 286.7% during the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock valued at $434,000 after buying an additional 192,635 shares during the period. Millennium Management LLC increased its stake in shares of 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 purchasing an additional 1,486,910 shares during the last quarter. Algert Global LLC raised its holdings in shares of Nerdy by 171.6% in the 2nd quarter. Algert Global LLC now owns 111,026 shares of the company’s stock worth $185,000 after purchasing an additional 70,140 shares during the period. SG Americas Securities LLC purchased a new position in Nerdy in the third quarter valued at approximately $29,000. Finally, Ritholtz Wealth Management bought a new position in Nerdy during the third quarter valued at $867,000. 39.10% of the stock is currently owned by institutional investors.

Nerdy Stock Performance

Nerdy stock opened at $1.98 on Friday. The stock’s 50 day moving average price is $1.69 and its two-hundred day moving average price is $1.31. The stock has a market capitalization of $356.25 million, a price-to-earnings ratio of -5.81 and a beta of 1.98. Nerdy has a 52-week low of $0.73 and a 52-week high of $3.60.

Nerdy (NYSE:NRDY) last issued its earnings results on Thursday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $36.63 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. On average, equities research analysts forecast that Nerdy will post -0.43 EPS for the current year.

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.