Nerdy’s (NRDY) “Buy” Rating Reaffirmed at Needham & Company LLC

by · The Cerbat Gem

Nerdy (NYSE:NRDY – Get Free Report)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $2.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 124.72% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Northland Securities cut Nerdy from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $5.00 to $3.00 in a report on Friday, August 9th. JMP Securities reaffirmed a “market perform” rating on shares of Nerdy in a research note on Friday. Cantor Fitzgerald reissued a “neutral” rating and set a $1.00 price target (down from $6.00) on shares of Nerdy in a research note on Friday. Raymond James cut shares of Nerdy from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered shares of Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.08.

Check Out Our Latest Research Report on NRDY

Nerdy Price Performance

Shares of Nerdy stock opened at $0.89 on Friday. The firm has a 50 day simple moving average of $0.98 and a 200 day simple moving average of $1.48. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60. The firm has a market cap of $158.46 million, a P/E ratio of -2.70 and a beta of 1.68.

Nerdy (NYSE:NRDY – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.04. The company had revenue of $50.98 million during the quarter, compared to analysts’ expectations of $51.14 million. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. During the same period last year, the firm earned ($0.07) EPS. On average, sell-side analysts expect that Nerdy will post -0.48 EPS for the current year.

Insider Activity

In other Nerdy news, CEO Charles K. Cohn purchased 10,993,192 shares of the stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $0.89 per share, for a total transaction of $9,783,940.88. Following the completion of the acquisition, the chief executive officer now directly owns 13,110,718 shares of the company’s stock, valued at $11,668,539.02. The trade was a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Charles K. Cohn acquired 10,993,192 shares of the stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $0.89 per share, with a total value of $9,783,940.88. Following the completion of the transaction, the chief executive officer now directly owns 13,110,718 shares of the company’s stock, valued at approximately $11,668,539.02. The trade was a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Abigail Blunt acquired 49,045 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the transaction, the director now directly owns 50,045 shares in the company, valued at $45,540.95. This represents a 4,900.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 13,212,528 shares of company stock valued at $12,063,972 in the last quarter. Company insiders own 31.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Nerdy in the third quarter valued at $29,000. AM Investment Strategies LLC acquired a new stake in shares of Nerdy in the third quarter valued at about $29,000. nVerses Capital LLC bought a new stake in Nerdy during the second quarter worth about $34,000. Bayesian Capital Management LP acquired a new position in Nerdy during the first quarter valued at approximately $101,000. Finally, 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 valued at $142,000 after purchasing an additional 8,834 shares during the last quarter. 39.10% of the stock is currently owned by institutional investors.

Nerdy Company Profile

(Get Free Report)

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.

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