Nerdy (NYSE:NRDY) Earns Buy Rating from Needham & Company LLC

Nerdy (NYSE:NRDY)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $2.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 124.72% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group reiterated a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of Nerdy in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. Northland Securities downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $5.00 to $3.00 in a research note on Friday, August 9th. Raymond James downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group downgraded shares of Nerdy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $5.00 to $3.00 in a report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Nerdy presently has an average rating of “Hold” and an average price target of $3.08.

Nerdy Trading Up 1.1 %

NYSE NRDY opened at $0.89 on Friday. The company has a market cap of $158.46 million, a PE ratio of -2.70 and a beta of 1.68. The stock’s 50-day moving average price is $0.98 and its two-hundred day moving average price is $1.48. Nerdy has a 1 year low of $0.73 and a 1 year high of $3.60.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results 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 return on equity of 41.05% and a negative net margin of 17.23%. The company 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 business earned ($0.07) EPS. Research analysts forecast that Nerdy will post -0.48 EPS for the current fiscal year.

Insider Activity

In other Nerdy news, CFO Jason H. Pello sold 50,903 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 2,356,200 shares in the company, valued at $2,002,770. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Nerdy news, CFO Jason H. Pello sold 50,903 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the transaction, the chief financial officer now directly owns 2,356,200 shares in the company, valued at $2,002,770. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 in the company, valued at $2,302,658.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 13,212,528 shares of company stock worth $12,063,972. Corporate insiders own 31.35% of the company’s stock.

Institutional Trading of Nerdy

Hedge funds have recently modified their holdings of the company. AM Investment Strategies LLC acquired a new position in shares of Nerdy in the 3rd quarter worth approximately $29,000. Ritholtz Wealth Management bought a new position in Nerdy in the 3rd quarter valued at $867,000. SG Americas Securities LLC acquired a new position in Nerdy in the third quarter worth $29,000. Cubist Systematic Strategies LLC grew its holdings in shares of Nerdy by 286.7% during the second quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock worth $434,000 after purchasing an additional 192,635 shares during the last quarter. Finally, Greenvale Capital LLP increased its stake in shares of Nerdy by 6.0% in 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 in the last quarter. Institutional investors and hedge funds 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.