Nerdy, Inc. (NYSE:NRDY) Given Average Recommendation of “Moderate Buy” by Brokerages

Nerdy, Inc. (NYSE:NRDY) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $4.71.

Several equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $4.00 price objective on shares of Nerdy in a report on Wednesday, February 28th. JPMorgan Chase & Co. initiated coverage on shares of Nerdy in a report on Monday, March 11th. They issued an “overweight” rating and a $5.00 price target for the company.

Nerdy Trading Up 2.3 %

NRDY opened at $2.72 on Thursday. The business’s 50-day moving average is $2.81 and its two-hundred day moving average is $2.97. Nerdy has a 1 year low of $2.31 and a 1 year high of $5.37.

Nerdy (NYSE:NRDY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. The firm had revenue of $55.10 million during the quarter, compared to analyst estimates of $54.77 million. During the same quarter in the prior year, the business posted ($0.13) EPS. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, research analysts anticipate that Nerdy will post -0.33 EPS for the current fiscal year.

Insider Transactions at Nerdy

In other Nerdy news, CEO Charles K. Cohn bought 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average cost of $2.79 per share, for a total transaction of $209,250.00. Following the completion of the transaction, the chief executive officer now directly owns 185,704 shares of the company’s stock, valued at approximately $518,114.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Charles K. Cohn bought 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of $2.79 per share, with a total value of $209,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 185,704 shares in the company, valued at $518,114.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles K. Cohn purchased 67,991 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was bought at an average cost of $2.88 per share, with a total value of $195,814.08. Following the completion of the acquisition, the chief executive officer now directly owns 10,855,579 shares of the company’s stock, valued at approximately $31,264,067.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 217,991 shares of company stock worth $629,314 and have sold 126,091 shares worth $370,371. Company insiders own 31.35% of the company’s stock.

Institutional Trading of Nerdy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRDY. Cutter & CO Brokerage Inc. purchased a new stake in shares of Nerdy during the 3rd quarter worth about $41,000. Tower Research Capital LLC TRC boosted its position in Nerdy by 1,765.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock worth $52,000 after purchasing an additional 14,244 shares in the last quarter. SG Americas Securities LLC purchased a new position in Nerdy during the fourth quarter worth approximately $50,000. PEAK6 Investments LLC acquired a new stake in Nerdy in the third quarter valued at approximately $56,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Nerdy in the third quarter valued at approximately $59,000. 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.