Nerdy (NYSE:NRDY) Given Neutral Rating at Cantor Fitzgerald

Nerdy (NYSE:NRDY - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at Cantor Fitzgerald in a research note issued to investors on Friday, Marketbeat reports. They currently have a $1.00 price objective on the stock, down from their prior price objective of $6.00. Cantor Fitzgerald's price target suggests a potential upside of 21.18% from the stock's previous close.

Several other equities analysts have also recently commented on the company. JMP Securities restated a "market perform" rating on shares of Nerdy in a research report on Friday. Northland Securities lowered shares of Nerdy from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $5.00 to $3.00 in a report on Friday, August 9th. Canaccord Genuity Group cut Nerdy from a "buy" rating to a "hold" rating and reduced their target price for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Northland Capmk cut Nerdy from a "strong-buy" rating to a "hold" rating in a report on Friday, August 9th. Finally, Raymond James lowered shares of Nerdy from an "outperform" rating to a "market perform" rating in a report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Nerdy currently has an average rating of "Hold" and an average target price of $2.98.

Nerdy Stock Down 7.3 %

NRDY traded down $0.06 during trading on Friday, reaching $0.83. 3,651,319 shares of the company were exchanged, compared to its average volume of 1,604,689. The company has a market cap of $146.92 million, a price-to-earnings ratio of -2.49 and a beta of 1.68. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60. The company's 50-day moving average is $0.98 and its two-hundred day moving average is $1.48.

Nerdy (NYSE:NRDY - Get Free Report) last issued 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 net margin of 17.23% and a negative return on equity of 41.05%. The company had revenue of $50.98 million during the quarter, compared to analysts' expectations of $51.14 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. Equities analysts forecast that Nerdy will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Charles K. Cohn acquired 2,170,291 shares of the stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $1.03 per share, with a total value of $2,235,399.73. Following the completion of the transaction, the chief executive officer now owns 13,025,870 shares of the company's stock, valued at $13,416,646.10. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Charles K. Cohn bought 2,170,291 shares of the stock in a transaction on Monday, August 19th. The shares were bought at an average price of $1.03 per share, with a total value of $2,235,399.73. Following the completion of the acquisition, the chief executive officer now owns 13,025,870 shares in the company, valued at $13,416,646.10. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles K. Cohn purchased 10,993,192 shares of Nerdy stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $0.89 per share, with a total value of $9,783,940.88. Following the transaction, the chief executive officer now directly owns 13,110,718 shares in the company, valued at approximately $11,668,539.02. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 13,212,528 shares of company stock worth $12,063,972. Company insiders own 31.35% of the company's stock.

Hedge Funds Weigh In On Nerdy

A number of institutional investors have recently bought and sold shares of NRDY. Greenvale Capital LLP increased its position in Nerdy by 6.0% in 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 in the last quarter. Vanguard Group Inc. raised its stake in Nerdy by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company's stock worth $9,025,000 after acquiring an additional 88,771 shares during the period. Marshall Wace LLP lifted its holdings in 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 purchasing an additional 224,049 shares in the last quarter. Millennium Management LLC boosted its position in shares of Nerdy by 382.0% in the second 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 period. Finally, Clearline Capital LP increased its stake in shares of Nerdy by 34.3% in the second quarter. Clearline Capital LP now owns 1,846,737 shares of the company's stock worth $3,084,000 after purchasing an additional 471,603 shares in the last quarter. 39.10% of the stock is owned by institutional investors.

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.