Nerdy (NYSE:NRDY) Earns "Market Perform" Rating from JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Nerdy (NYSE:NRDY - Free Report) in a report released on Friday, Marketbeat reports.

Several other analysts have also issued reports on NRDY. Northland Securities lowered shares of Nerdy from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Northland Capmk downgraded shares of Nerdy from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 9th. Needham & Company LLC lowered their price target on Nerdy from $4.00 to $2.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Raymond James cut Nerdy from an "outperform" rating to a "market perform" rating in a research report on Friday, August 9th. Finally, Barclays dropped their price target on Nerdy from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Friday, August 9th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $2.98.

Nerdy Price Performance

NYSE:NRDY traded down $0.06 on Friday, hitting $0.83. 3,651,319 shares of the company's stock were exchanged, compared to its average volume of 1,604,689. The company has a market cap of $146.92 million, a P/E ratio of -2.49 and a beta of 1.68. The firm has a 50-day moving average price of $0.98 and a 200-day moving average price of $1.48. Nerdy has a 52 week low of $0.73 and a 52 week high of $3.60.

Nerdy (NYSE:NRDY - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $50.98 million during the quarter, compared to the consensus estimate of $51.14 million. During the same period last year, the company earned ($0.07) earnings per share. On average, research analysts expect that Nerdy will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nerdy news, Director Abigail Blunt bought 49,045 shares of the firm's stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $0.91 per share, with a total value of $44,630.95. Following the completion of the transaction, the director now directly owns 50,045 shares in the company, valued at approximately $45,540.95. The trade was a 4,900.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Charles K. Cohn purchased 10,993,192 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 owns 13,110,718 shares of the company's stock, valued at $11,668,539.02. This represents a 500.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abigail Blunt acquired 49,045 shares of the business's stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the acquisition, the director now directly owns 50,045 shares in the company, valued at approximately $45,540.95. The trade was a 4,900.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 13,212,528 shares of company stock worth $12,063,972. Insiders own 31.35% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NRDY. Ritholtz Wealth Management bought a new stake in Nerdy during the third quarter worth $867,000. Vanguard Group Inc. boosted its holdings in shares of Nerdy by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company's stock worth $9,025,000 after buying an additional 88,771 shares during the last quarter. Greenvale Capital LLP grew its position in Nerdy by 6.0% during the second quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company's stock valued at $15,030,000 after buying an additional 509,004 shares during the period. SG Americas Securities LLC purchased a new stake in Nerdy during the third quarter worth about $29,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Nerdy by 286.7% in the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company's stock valued at $434,000 after acquiring an additional 192,635 shares during the last quarter. 39.10% of the stock is owned by institutional investors.

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.