JMP Securities Cuts Nerdy (NYSE:NRDY) Price Target to $3.00

Nerdy (NYSE:NRDY) had its target price decreased by JMP Securities from $5.00 to $3.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 255.87% from the company’s current price.

A number of other research analysts have also recently issued reports on NRDY. Raymond James cut Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $4.00 price objective on shares of Nerdy in a research report on Friday, May 17th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $3.00 target price (down from $5.00) on shares of Nerdy in a report on Friday. Northland Securities cut shares of Nerdy from an “outperform” rating to a “market perform” rating and cut their price target for the company from $5.00 to $3.00 in a report on Friday. Finally, JPMorgan Chase & Co. lowered shares of Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.78.

Nerdy Price Performance

NYSE:NRDY traded down $0.75 during trading hours on Friday, hitting $0.84. The company had a trading volume of 16,314,343 shares, compared to its average volume of 1,307,240. Nerdy has a 52 week low of $0.84 and a 52 week high of $5.13. The company has a market capitalization of $148.11 million, a PE ratio of -3.03 and a beta of 1.73. The stock has a 50-day moving average price of $1.67 and a 200 day moving average price of $2.38.

Nerdy (NYSE:NRDY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. Nerdy had a negative return on equity of 41.24% and a negative net margin of 14.49%. The business had revenue of $53.73 million for the quarter, compared to analysts’ expectations of $52.20 million. During the same period in the previous year, the firm posted ($0.12) EPS. The business’s revenue was up 9.2% on a year-over-year basis. Analysts anticipate that Nerdy will post -0.31 EPS for the current fiscal year.

Insider Transactions at Nerdy

In other news, CFO Jason H. Pello sold 37,360 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $2.07, for a total value of $77,335.20. Following the completion of the sale, the chief financial officer now directly owns 2,438,689 shares in the company, valued at approximately $5,048,086.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Charles K. Cohn acquired 347,275 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average cost of $1.93 per share, for a total transaction of $670,240.75. Following the purchase, the chief executive officer now owns 2,117,526 shares in the company, valued at approximately $4,086,825.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason H. Pello sold 37,360 shares of Nerdy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $2.07, for a total transaction of $77,335.20. Following the transaction, the chief financial officer now directly owns 2,438,689 shares in the company, valued at approximately $5,048,086.23. The disclosure for this sale can be found here. Insiders have acquired 1,200,275 shares of company stock worth $2,131,511 in the last 90 days. 31.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nerdy

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Nerdy during the fourth quarter worth $50,000. ACR Alpine Capital Research LLC grew its position in shares of Nerdy by 16.2% during the fourth quarter. ACR Alpine Capital Research LLC now owns 822,972 shares of the company’s stock valued at $2,823,000 after purchasing an additional 114,654 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Nerdy by 1,765.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock worth $52,000 after purchasing an additional 14,244 shares during the last quarter. Certuity LLC purchased a new stake in shares of Nerdy in the fourth quarter worth about $120,000. Finally, Greenvale Capital LLP lifted its position in shares of Nerdy by 2.9% in the fourth quarter. Greenvale Capital LLP now owns 8,490,996 shares of the company’s stock worth $29,124,000 after buying an additional 240,996 shares in the last quarter. 39.10% of the stock is currently owned by hedge funds and other 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.