Nerdy (NYSE:NRDY) Lowered to Underweight Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Nerdy (NYSE:NRDY - Free Report) from a neutral rating to an underweight rating in a report released on Monday morning, Marketbeat reports.

A number of other equities research analysts have also weighed in on NRDY. Raymond James lowered Nerdy from an "outperform" rating to a "market perform" rating in a research report on Friday, August 9th. JMP Securities reissued a "market perform" rating on shares of Nerdy in a research report on Friday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $1.00 target price (down from $6.00) on shares of Nerdy in a research report on Friday. Northland Securities reduced their price target on shares of Nerdy from $3.00 to $2.00 and set a "market perform" rating on the stock in a research report on Friday. Finally, Needham & Company LLC restated a "buy" rating and issued a $2.00 price objective on shares of Nerdy in a report on Friday. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2.86.

Nerdy Stock Performance

NYSE:NRDY traded up $0.07 during midday trading on Monday, reaching $0.90. 1,435,395 shares of the stock traded hands, compared to its average volume of 1,603,927. The stock has a market capitalization of $159.55 million, a P/E ratio of -2.43 and a beta of 1.68. The company has a fifty day moving average of $0.97 and a 200 day moving average of $1.45. Nerdy has a 12 month low of $0.73 and a 12 month high of $3.60.

Nerdy (NYSE:NRDY - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.04. Nerdy had a negative net margin of 19.31% and a negative return on equity of 45.11%. The company had revenue of $50.98 million during the quarter, compared to analyst estimates of $51.14 million. During the same period in the prior year, the business posted ($0.07) earnings per share. On average, analysts predict that Nerdy will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nerdy news, CFO Jason H. Pello sold 50,903 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the sale, the chief financial officer now directly owns 2,356,200 shares in the company, valued at $2,002,770. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Abigail Blunt bought 49,045 shares of the company's stock in a transaction that occurred on 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 transaction, the director now owns 50,045 shares in the company, valued at $45,540.95. The trade was a 4,900.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jason H. Pello sold 50,903 shares of Nerdy stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $0.85, for a total value of $43,267.55. Following the completion of the sale, the chief financial officer now directly owns 2,356,200 shares in the company, valued at approximately $2,002,770. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 13,212,528 shares of company stock valued at $12,063,972. 31.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Nerdy

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Nerdy in the third quarter worth about $29,000. AM Investment Strategies LLC bought a new stake in shares of Nerdy during the third quarter valued at approximately $29,000. nVerses Capital LLC purchased a new stake in shares of Nerdy in the second quarter valued at approximately $34,000. Bayesian Capital Management LP bought a new stake in Nerdy during the 1st quarter valued at $101,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Nerdy in the 3rd quarter worth $138,000. 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.