Nerdy (NYSE:NRDY) Issues Earnings Results

Nerdy (NYSE:NRDY) announced its quarterly earnings results on Tuesday. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04, Briefing.com reports. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The company had revenue of $53.73 million for the quarter, compared to analyst estimates of $52.20 million. During the same quarter in the prior year, the business posted ($0.12) EPS. Nerdy’s quarterly revenue was up 9.2% on a year-over-year basis.

Nerdy Stock Down 11.7 %

NYSE NRDY traded down $0.31 during trading on Wednesday, hitting $2.34. The company’s stock had a trading volume of 4,029,108 shares, compared to its average volume of 1,106,809. Nerdy has a 52 week low of $1.92 and a 52 week high of $5.37. The firm has a market cap of $406.48 million, a P/E ratio of -5.29 and a beta of 1.90. The firm has a 50 day moving average price of $2.79 and a 200 day moving average price of $2.96.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NRDY shares. JPMorgan Chase & Co. initiated coverage on shares of Nerdy in a research report on Monday, March 11th. They set an “overweight” rating and a $5.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price target on shares of Nerdy in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.71.

Insider Activity

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 acquired at an average price of $2.79 per share, with a total value of $209,250.00. Following the completion of the transaction, the chief executive officer now owns 185,704 shares of the company’s stock, valued at approximately $518,114.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Charles K. Cohn purchased 75,000 shares of Nerdy stock in a transaction on Wednesday, March 13th. The stock was purchased at an average cost of $2.79 per share, with a total value of $209,250.00. Following the acquisition, the chief executive officer now directly owns 185,704 shares in the company, valued at $518,114.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher C. Swenson sold 25,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $2.96, for a total transaction of $74,000.00. Following the transaction, the insider now owns 1,233,248 shares in the company, valued at approximately $3,650,414.08. The disclosure for this sale can be found here. Over the last three months, insiders acquired 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 owned by company insiders.

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.