Nerdy (NYSE:NRDY) Cut to “Hold” at Northland Capmk

Northland Capmk downgraded shares of Nerdy (NYSE:NRDY) from a strong-buy rating to a hold rating in a report published on Friday morning, Zacks.com reports.

A number of other brokerages also recently weighed in on NRDY. Barclays decreased their price target on Nerdy from $4.00 to $3.00 and set an equal weight rating for the company in a report on Friday. JMP Securities decreased their target price on Nerdy from $5.00 to $3.00 and set a market outperform rating for the company in a research note on Friday. Raymond James lowered Nerdy from an outperform rating to a market perform rating in a research note on Friday. The Goldman Sachs Group increased their price target on Nerdy from $3.25 to $3.75 and gave the stock a neutral rating in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. lowered shares of Nerdy from an overweight rating to a neutral rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Nerdy currently has a consensus rating of Hold and a consensus price target of $3.58.

Nerdy Price Performance

Nerdy stock opened at $0.75 on Friday. The stock’s 50 day moving average is $1.64 and its 200 day moving average is $2.34. Nerdy has a one year low of $0.73 and a one year high of $5.13. The firm has a market cap of $131.78 million, a P/E ratio of -2.68 and a beta of 1.73.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Nerdy had a negative net margin of 14.49% and a negative return on equity of 41.24%. The firm had revenue of $50.98 million for the quarter, compared to the consensus estimate of $51.14 million. During the same quarter in the previous year, the company earned ($0.07) EPS. Equities analysts anticipate that Nerdy will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Nerdy

In related news, CEO Charles K. Cohn acquired 347,275 shares of the stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $1.93 per share, with a total value of $670,240.75. Following the completion of the purchase, the chief executive officer now directly owns 2,117,526 shares in the company, valued at approximately $4,086,825.18. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Charles K. Cohn purchased 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average cost of $1.80 per share, with a total value of $900,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,422,976 shares of the company’s stock, valued at $2,561,356.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles K. Cohn acquired 347,275 shares of Nerdy stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $1.93 per share, with a total value of $670,240.75. Following the completion of the transaction, the chief executive officer now directly owns 2,117,526 shares in the company, valued at approximately $4,086,825.18. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,200,275 shares of company stock worth $2,131,511. Insiders own 31.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NRDY. Greenvale Capital LLP grew its position in Nerdy by 2.9% during the fourth quarter. Greenvale Capital LLP now owns 8,490,996 shares of the company’s stock valued at $29,124,000 after buying an additional 240,996 shares during the period. S Squared Technology LLC boosted its stake in Nerdy by 582.6% in the fourth quarter. S Squared Technology LLC now owns 204,786 shares of the company’s stock valued at $702,000 after acquiring an additional 174,786 shares during the last quarter. XTX Topco Ltd grew its position in shares of Nerdy by 1,064.9% during the 2nd quarter. XTX Topco Ltd now owns 184,001 shares of the company’s stock valued at $307,000 after acquiring an additional 168,206 shares during the period. ACR Alpine Capital Research LLC increased its stake in shares of Nerdy by 15.7% during the 1st quarter. ACR Alpine Capital Research LLC now owns 952,062 shares of the company’s stock worth $2,770,000 after purchasing an additional 129,090 shares during the last quarter. Finally, Vanguard Group Inc. raised 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 purchasing an additional 88,771 shares during the period. Hedge funds and other 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.