Nerdy (NYSE:NRDY) Given Buy Rating at Needham & Company LLC

Nerdy (NYSE:NRDY)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $4.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 50.66% from the stock’s previous close.

Separately, JPMorgan Chase & Co. assumed coverage on Nerdy in a research note on Monday, March 11th. They issued an “overweight” rating and a $5.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.71.

Nerdy Trading Down 2.4 %

Shares of NYSE NRDY opened at $2.66 on Wednesday. Nerdy has a twelve month low of $2.31 and a twelve month high of $5.37. The firm has a 50-day moving average of $2.80 and a two-hundred day moving average of $2.96. The company has a market capitalization of $461.20 million, a price-to-earnings ratio of -6.32 and a beta of 1.90.

Nerdy (NYSE:NRDY) last issued its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $53.73 million during the quarter, compared to analysts’ expectations of $52.20 million. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) earnings per share. As a group, research analysts predict that Nerdy will post -0.33 earnings per share for the current year.

Insider Activity at Nerdy

In other Nerdy news, CEO Charles K. Cohn acquired 67,991 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $2.88 per share, for a total transaction of $195,814.08. Following the completion of the acquisition, the chief executive officer now owns 10,855,579 shares of the company’s stock, valued at approximately $31,264,067.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jason H. Pello sold 41,896 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $3.13, for a total value of $131,134.48. Following the sale, the chief financial officer now owns 1,505,244 shares in the company, valued at $4,711,413.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles K. Cohn purchased 67,991 shares of Nerdy 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 owns 10,855,579 shares in the company, valued at $31,264,067.52. The disclosure for this purchase can be found here. In the last quarter, insiders bought 217,991 shares of company stock valued at $629,314 and sold 126,091 shares valued at $370,371. 31.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NRDY. Cutter & CO Brokerage Inc. bought a new position in shares of Nerdy during the 3rd quarter worth about $41,000. SG Americas Securities LLC acquired a new stake in Nerdy during the fourth quarter valued at approximately $50,000. Tower Research Capital LLC TRC grew its stake in shares of Nerdy by 1,765.1% in the 4th 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 during the period. PEAK6 Investments LLC acquired a new position in shares of Nerdy in the 3rd quarter worth approximately $56,000. Finally, Aigen Investment Management LP acquired a new position in shares of Nerdy in the 3rd quarter worth approximately $59,000. Institutional investors 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.