Nerdy, Inc. (NYSE:NRDY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Nerdy, Inc. (NYSE:NRDY) have been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3.58.

Several research firms have commented on NRDY. Cantor Fitzgerald raised shares of Nerdy to a “strong-buy” rating in a research report on Tuesday, August 13th. Raymond James lowered Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Northland Capmk cut shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Northland Securities downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered Nerdy from an “overweight” rating to a “neutral” rating in a research note on Friday, August 9th.

Insider Buying and Selling

In other news, CEO Charles K. Cohn acquired 2,170,291 shares of Nerdy stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $1.03 per share, for a total transaction of $2,235,399.73. Following the completion of the purchase, the chief executive officer now directly owns 13,025,870 shares of the company’s stock, valued at approximately $13,416,646.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Nerdy news, CEO Charles K. Cohn purchased 347,275 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $1.93 per share, for a total transaction of $670,240.75. Following the acquisition, the chief executive officer now owns 2,117,526 shares in the company, valued at approximately $4,086,825.18. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles K. Cohn acquired 2,170,291 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $1.03 per share, with a total value of $2,235,399.73. Following the purchase, the chief executive officer now directly owns 13,025,870 shares in the company, valued at $13,416,646.10. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 13,510,758 shares of company stock valued at $12,689,581. 31.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in Nerdy in the second quarter worth $34,000. Bayesian Capital Management LP purchased a new stake in Nerdy during the first quarter valued at about $101,000. Rhumbline Advisers boosted its position in Nerdy by 11.6% during the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after purchasing an additional 8,834 shares during the period. Algert Global LLC raised its position in shares of Nerdy by 171.6% in the second quarter. Algert Global LLC now owns 111,026 shares of the company’s stock valued at $185,000 after purchasing an additional 70,140 shares during the period. Finally, XTX Topco Ltd lifted its stake 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 buying an additional 168,206 shares in the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

Nerdy Stock Up 1.7 %

Shares of Nerdy stock opened at $0.92 on Wednesday. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $4.69. The business has a fifty day simple moving average of $1.36 and a 200-day simple moving average of $2.01. The firm has a market cap of $161.24 million, a price-to-earnings ratio of -3.28 and a beta of 1.69.

Nerdy (NYSE:NRDY) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate 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 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. Analysts anticipate that Nerdy will post -0.48 earnings per share for the current fiscal year.

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.