Nerdy, Inc. (NYSE:NRDY) Receives Consensus Rating of "Hold" from Brokerages

Nerdy, Inc. (NYSE:NRDY - Get Free Report) has earned a consensus rating of "Hold" from the eleven brokerages that are presently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $3.58.

A number of brokerages recently weighed in on NRDY. Needham & Company LLC decreased their price objective on shares of Nerdy from $4.00 to $2.00 and set a "buy" rating for the company in a report on Friday, August 9th. Cantor Fitzgerald upgraded shares of Nerdy to a "strong-buy" rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered shares of Nerdy from an "overweight" rating to a "neutral" rating in a report on Friday, August 9th. Canaccord Genuity Group downgraded shares of Nerdy from a "buy" rating to a "hold" rating and cut their target price for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Finally, Northland Securities downgraded shares of Nerdy from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $5.00 to $3.00 in a research report on Friday, August 9th.

Nerdy Stock Up 2.1 %

Shares of NRDY stock traded up $0.02 during trading hours on Thursday, hitting $0.97. 715,709 shares of the company's stock traded hands, compared to its average volume of 1,606,017. The stock's fifty day simple moving average is $1.01 and its two-hundred day simple moving average is $1.61. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60. The stock has a market cap of $172.78 million, a price-to-earnings ratio of -2.88 and a beta of 1.67.

Nerdy (NYSE:NRDY - Get Free Report) last announced its quarterly earnings data 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 17.23% and a negative return on equity of 41.05%. 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 previous year, the business earned ($0.07) EPS. On average, equities analysts forecast that Nerdy will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jason H. Pello sold 30,282 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $0.99, for a total transaction of $29,979.18. Following the completion of the sale, the chief financial officer now owns 2,325,918 shares of the company's stock, valued at $2,302,658.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Jason H. Pello sold 50,903 shares of the business's stock in a transaction on Friday, August 16th. The shares were 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 owns 2,356,200 shares of the company's stock, valued at $2,002,770. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason H. Pello sold 30,282 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $0.99, for a total transaction of $29,979.18. Following the completion of the transaction, the chief financial officer now directly owns 2,325,918 shares of the company's stock, valued at $2,302,658.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 13,212,528 shares of company stock valued at $12,063,972 in the last 90 days. Company insiders own 31.35% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NRDY. SG Americas Securities LLC bought a new position in Nerdy in the 3rd quarter worth $29,000. nVerses Capital LLC bought a new position in Nerdy in the 2nd quarter worth $34,000. Bayesian Capital Management LP bought a new position in Nerdy in the 1st quarter worth $101,000. Rhumbline Advisers boosted its holdings in Nerdy by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company's stock worth $142,000 after buying an additional 8,834 shares during the period. Finally, Algert Global LLC boosted its holdings in Nerdy by 171.6% in the 2nd quarter. Algert Global LLC now owns 111,026 shares of the company's stock worth $185,000 after buying an additional 70,140 shares during the period. 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.