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

Shares of Nerdy, Inc. (NYSE:NRDY - Get Free Report) have been given an average rating of "Hold" by the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $2.86.

A number of equities research analysts have recently commented on the company. Northland Securities cut their target price on Nerdy from $3.00 to $2.00 and set a "market perform" rating on the stock in a research note 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 research report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Nerdy from a "neutral" rating to an "underweight" rating in a research note on Monday, November 11th. JMP Securities reissued a "market perform" rating on shares of Nerdy in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $2.00 price target on shares of Nerdy in a report on Friday, November 8th.

Nerdy Stock Performance

Shares of NYSE NRDY traded up $0.13 during midday trading on Friday, hitting $1.93. 1,563,497 shares of the company traded hands, compared to its average volume of 1,336,568. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60. The firm has a market cap of $347.23 million, a P/E ratio of -5.66 and a beta of 1.98. The stock has a 50-day moving average price of $1.68 and a 200 day moving average price of $1.31.

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

Insider Activity

In other Nerdy news, CEO Charles K. Cohn bought 208,726 shares of Nerdy stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $181,591.62. Following the completion of the transaction, the chief executive officer now directly owns 21,157,650 shares of the company's stock, valued at approximately $18,407,155.50. This represents a 1.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher C. Swenson sold 35,000 shares of Nerdy stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $1.24, for a total value of $43,400.00. Following the transaction, the insider now owns 1,768,248 shares in the company, valued at approximately $2,192,627.52. The trade was a 1.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 13,455,750 shares of company stock valued at $15,530,190 and sold 160,732 shares valued at $211,015. Insiders own 31.35% of the company's stock.

Institutional Trading of Nerdy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC increased its position 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 purchasing an additional 10,000 shares during the last quarter. Sargent Investment Group LLC purchased a new stake in Nerdy during the 4th quarter worth about $153,000. Franklin Resources Inc. lifted its holdings in Nerdy by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,100,644 shares of the company's stock worth $4,224,000 after buying an additional 79,624 shares during the last quarter. Barclays PLC boosted its position in shares of Nerdy by 330.4% during the 3rd quarter. Barclays PLC now owns 103,960 shares of the company's stock worth $102,000 after acquiring an additional 79,808 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Nerdy by 9.3% during the third quarter. Geode Capital Management LLC now owns 1,718,647 shares of the company's stock worth $1,690,000 after purchasing an additional 145,575 shares during the last quarter. Hedge funds and other institutional investors 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.