Brokerages Set Nerdy, Inc. (NYSE:NRDY) Price Target at $3.58

Shares of Nerdy, Inc. (NYSE:NRDY) have earned an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $3.58.

A number of analysts recently weighed in on the stock. Cantor Fitzgerald raised shares of Nerdy to a “strong-buy” rating in a research note on Tuesday, August 13th. JMP Securities lowered their price objective on Nerdy from $5.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC cut their target price on Nerdy from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Barclays lowered their price target on Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $3.00 price objective (down from $5.00) on shares of Nerdy in a report on Friday, August 9th.

Insider Activity

In related news, CEO Charles K. Cohn purchased 500,000 shares of Nerdy stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average price of $1.80 per share, for a total transaction of $900,000.00. Following the transaction, the chief executive officer now directly owns 1,422,976 shares in the company, valued at $2,561,356.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Charles K. Cohn bought 500,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was bought at an average cost of $1.80 per share, with a total value of $900,000.00. Following the completion of the purchase, the chief executive officer now owns 1,422,976 shares in the company, valued at approximately $2,561,356.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles K. Cohn purchased 10,993,192 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $0.89 per share, for a total transaction of $9,783,940.88. Following the completion of the purchase, the chief executive officer now directly owns 13,110,718 shares of the company’s stock, valued at $11,668,539.02. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 14,010,758 shares of company stock worth $13,589,581. 31.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nerdy

Institutional investors and hedge funds have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Nerdy in the second quarter valued at about $34,000. Bayesian Capital Management LP bought a new position in shares of Nerdy in the 1st quarter valued at about $101,000. Rhumbline Advisers grew its position in shares of Nerdy by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after buying an additional 8,834 shares during the period. Algert Global LLC raised its stake in shares of Nerdy by 171.6% during the second quarter. Algert Global LLC now owns 111,026 shares of the company’s stock worth $185,000 after buying an additional 70,140 shares during the last quarter. Finally, XTX Topco Ltd lifted its holdings in Nerdy by 1,064.9% in the second 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 during the period. Institutional investors own 39.10% of the company’s stock.

Nerdy Stock Down 7.3 %

Shares of NRDY opened at $0.94 on Wednesday. The stock’s 50-day moving average price is $1.38 and its 200 day moving average price is $2.04. Nerdy has a 12-month low of $0.73 and a 12-month high of $4.86. The firm has a market capitalization of $164.54 million, a price-to-earnings ratio of -3.34 and a beta of 1.68.

Nerdy (NYSE:NRDY) last issued its earnings results on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, beating 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 business had revenue of $50.98 million during the quarter, compared to analyst estimates of $51.14 million. During the same period in the prior year, the company posted ($0.07) earnings per share. Equities research analysts expect that Nerdy will post -0.48 EPS for the current year.

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.