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

Shares of Nerdy, Inc. (NYSE:NRDY) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.58.

Several analysts have weighed in on the stock. Northland Capmk cut shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Raymond James downgraded Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. JMP Securities cut their price target on shares of Nerdy from $5.00 to $3.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Needham & Company LLC lowered their price target on Nerdy from $4.00 to $2.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Barclays dropped their target price on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 9th.

Nerdy Stock Performance

Shares of Nerdy stock opened at $0.98 on Friday. The firm has a market cap of $174.17 million, a PE ratio of -3.49 and a beta of 1.68. Nerdy has a 52-week low of $0.73 and a 52-week high of $3.91. The business’s 50 day simple moving average is $1.18 and its 200 day simple moving average is $1.85.

Nerdy (NYSE:NRDY) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.04. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. The company had revenue of $50.98 million during the quarter, compared to the consensus estimate of $51.14 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. As a group, equities research analysts predict that Nerdy will post -0.48 EPS for the current year.

Insiders Place Their Bets

In other news, Director Abigail Blunt acquired 49,045 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now owns 50,045 shares in the company, valued at $45,540.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Nerdy news, Director Abigail Blunt bought 49,045 shares of Nerdy stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average price of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the purchase, the director now directly owns 50,045 shares of the company’s stock, valued at $45,540.95. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles K. Cohn acquired 10,993,192 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $0.89 per share, for a total transaction of $9,783,940.88. Following the completion of the purchase, the chief executive officer now owns 13,110,718 shares in the company, valued at approximately $11,668,539.02. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 13,212,528 shares of company stock valued at $12,063,972. Insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock valued at $142,000 after acquiring an additional 8,834 shares during the period. nVerses Capital LLC bought a new position in Nerdy in the second quarter worth about $34,000. Bayesian Capital Management LP bought a new stake in Nerdy during the 1st quarter valued at approximately $101,000. ACR Alpine Capital Research LLC grew its holdings in shares of Nerdy by 4.1% during the 2nd quarter. ACR Alpine Capital Research LLC now owns 991,332 shares of the company’s stock worth $1,656,000 after acquiring an additional 39,270 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Nerdy by 28.5% during the second quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock valued at $437,000 after purchasing an additional 58,152 shares in the last quarter. 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.