Nerdy, Inc. (NYSE:NRDY) Receives $2.86 Average PT from Analysts

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

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

Nerdy Price Performance

Shares of Nerdy stock opened at $1.86 on Friday. The company’s 50 day moving average price is $1.70 and its two-hundred day moving average price is $1.32. The firm has a market capitalization of $334.60 million, a P/E ratio of -5.46 and a beta of 1.98. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60.

Nerdy (NYSE:NRDY) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.09. Nerdy had a negative return on equity of 47.45% and a negative net margin of 19.31%. The company had revenue of $37.53 million for the quarter, compared to the consensus estimate of $36.63 million. During the same quarter last year, the business posted ($0.13) EPS. On average, analysts expect that Nerdy will post -0.43 earnings per share for the current year.

Insider Buying and Selling at Nerdy

In other Nerdy news, CFO Jason H. Pello sold 30,242 shares of Nerdy stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $1.84, for a total value of $55,645.28. Following the completion of the sale, the chief financial officer now directly owns 2,225,186 shares in the company, valued at approximately $4,094,342.24. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles K. Cohn purchased 208,726 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $181,591.62. Following the completion of the acquisition, the chief executive officer now directly owns 21,157,650 shares in the company, valued at approximately $18,407,155.50. This represents a 1.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, 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. Insiders own 31.35% of the company’s stock.

Institutional Trading of Nerdy

Several hedge funds have recently modified their holdings of NRDY. AM Investment Strategies LLC acquired a new stake in Nerdy in the third quarter worth $29,000. SG Americas Securities LLC bought a new position in shares of Nerdy during the 3rd quarter worth about $29,000. Moloney Securities Asset Management LLC grew its stake in shares of Nerdy by 53.4% in the 4th quarter. Moloney Securities Asset Management LLC now owns 28,725 shares of the company’s stock valued at $47,000 after buying an additional 10,000 shares during the period. Barclays PLC increased its position in Nerdy by 330.4% in the 3rd quarter. Barclays PLC now owns 103,960 shares of the company’s stock valued at $102,000 after buying an additional 79,808 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in Nerdy during the 3rd quarter worth approximately $138,000. Institutional investors 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.