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

Shares of Nerdy, Inc. (NYSE:NRDY) have been assigned an average rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.58.

A number of analysts have commented on NRDY shares. Canaccord Genuity Group reissued a “hold” rating and issued a $3.00 target price (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Raymond James lowered shares of Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Canaccord Genuity Group downgraded shares of Nerdy from a “buy” rating to a “hold” rating and cut their price objective for the company from $5.00 to $3.00 in a research report on Friday, August 9th. Northland Securities lowered shares of Nerdy from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $5.00 to $3.00 in a report on Friday, August 9th. Finally, Barclays dropped their price objective on Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th.

Nerdy Stock Performance

NRDY stock opened at $0.98 on Friday. The firm has a 50 day moving average price of $1.18 and a 200-day moving average price of $1.85. Nerdy has a 52-week low of $0.73 and a 52-week high of $3.91. The firm has a market capitalization of $174.17 million, a price-to-earnings ratio of -3.49 and a beta of 1.68.

Nerdy (NYSE:NRDY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $50.98 million for the quarter, compared to analysts’ expectations of $51.14 million. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. During the same quarter in the previous year, the business posted ($0.07) EPS. As a group, sell-side analysts forecast that Nerdy will post -0.48 earnings per share for the current fiscal year.

Insider Transactions at Nerdy

In other news, CEO Charles K. Cohn bought 10,993,192 shares of Nerdy stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $0.89 per share, for a total transaction of $9,783,940.88. Following the purchase, the chief executive officer now directly owns 13,110,718 shares of the company’s stock, valued at approximately $11,668,539.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Charles K. Cohn acquired 10,993,192 shares of Nerdy stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $0.89 per share, for a total transaction of $9,783,940.88. Following the purchase, the chief executive officer now owns 13,110,718 shares of the company’s stock, valued at approximately $11,668,539.02. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles K. Cohn acquired 2,170,291 shares of the stock in a transaction on Monday, August 19th. The stock was bought at an average price of $1.03 per share, for a total transaction of $2,235,399.73. Following the transaction, the chief executive officer now owns 13,025,870 shares in the company, valued at approximately $13,416,646.10. The disclosure for this purchase can be found here. Insiders acquired 13,212,528 shares of company stock valued at $12,063,972 in the last quarter. 31.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NRDY. Greenvale Capital LLP boosted its stake in Nerdy by 6.0% during the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after buying an additional 509,004 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Nerdy by 2.9% during the first quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock valued at $9,025,000 after acquiring an additional 88,771 shares during the last quarter. Marshall Wace LLP increased its position in shares of Nerdy by 12.9% during the second quarter. Marshall Wace LLP now owns 1,960,393 shares of the company’s stock valued at $3,274,000 after acquiring an additional 224,049 shares during the last quarter. Millennium Management LLC raised its position in Nerdy by 382.0% in the second quarter. Millennium Management LLC now owns 1,876,105 shares of the company’s stock valued at $3,133,000 after purchasing an additional 1,486,910 shares during the period. Finally, Clearline Capital LP raised its holdings in shares of Nerdy by 34.3% in the 2nd quarter. Clearline Capital LP now owns 1,846,737 shares of the company’s stock valued at $3,084,000 after buying an additional 471,603 shares during the period. Institutional investors and hedge funds 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.