Nerdy (NYSE:NRDY) Given New $3.00 Price Target at JMP Securities

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

Several other equities research analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price target on shares of Nerdy in a research report on Friday, May 17th. Canaccord Genuity Group downgraded Nerdy from a “buy” rating to a “hold” rating and reduced their target price for the company from $5.00 to $3.00 in a report on Friday. The Goldman Sachs Group lifted their price target on Nerdy from $3.25 to $3.75 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Raymond James cut shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Barclays reduced their price target on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday. Seven equities research 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 presently has a consensus rating of “Hold” and an average price target of $3.78.

Nerdy Stock Performance

Shares of NYSE:NRDY traded down $0.75 during trading hours on Friday, hitting $0.84. The stock had a trading volume of 16,314,343 shares, compared to its average volume of 1,307,240. The stock’s fifty day simple moving average is $1.67 and its 200 day simple moving average is $2.38. The firm has a market capitalization of $148.11 million, a price-to-earnings ratio of -3.03 and a beta of 1.73. Nerdy has a 1-year low of $0.84 and a 1-year high of $5.13.

Nerdy (NYSE:NRDY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $53.73 million for the quarter, compared to analyst estimates of $52.20 million. Nerdy had a negative return on equity of 41.24% and a negative net margin of 14.49%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share. As a group, research analysts anticipate that Nerdy will post -0.31 EPS for the current year.

Insider Activity at Nerdy

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

Hedge Funds Weigh In On Nerdy

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Nerdy during the fourth quarter worth about $50,000. Certuity LLC acquired a new position in Nerdy in the 4th quarter worth $120,000. ACR Alpine Capital Research LLC increased its holdings in Nerdy by 16.2% during the 4th quarter. ACR Alpine Capital Research LLC now owns 822,972 shares of the company’s stock worth $2,823,000 after purchasing an additional 114,654 shares in the last quarter. Tower Research Capital LLC TRC lifted 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 valued at $52,000 after purchasing an additional 14,244 shares in the last quarter. Finally, S Squared Technology LLC grew its holdings in shares of Nerdy by 582.6% during the fourth quarter. S Squared Technology LLC now owns 204,786 shares of the company’s stock worth $702,000 after buying an additional 174,786 shares in the last quarter. Institutional investors and hedge funds own 39.10% of the company’s stock.

About Nerdy

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.