Nerdy (NYSE:NRDY) Given Neutral Rating at Cantor Fitzgerald

Nerdy (NYSE:NRDY)‘s stock had its “neutral” rating restated by investment analysts at Cantor Fitzgerald in a research note issued on Friday, MarketBeat.com reports. They currently have a $1.00 price target on the stock, down from their previous price target of $6.00. Cantor Fitzgerald’s target price would indicate a potential upside of 12.36% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. JMP Securities restated a “market perform” rating on shares of Nerdy in a research note on Friday. Northland Securities lowered Nerdy from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $5.00 to $3.00 in a research report on Friday, August 9th. Canaccord Genuity Group lowered shares of Nerdy from a “buy” rating to a “hold” rating and dropped their price target for the company from $5.00 to $3.00 in a research note on Friday, August 9th. Needham & Company LLC cut their price objective on shares of Nerdy from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Raymond James downgraded shares of Nerdy from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.08.

Nerdy Stock Performance

NRDY stock opened at $0.89 on Friday. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60. The company’s 50 day moving average price is $0.98 and its 200 day moving average price is $1.48. The firm has a market capitalization of $158.46 million, a price-to-earnings ratio of -2.70 and a beta of 1.68.

Nerdy (NYSE:NRDY) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $50.98 million for the quarter, compared to the consensus estimate of $51.14 million. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. During the same period in the prior year, the firm posted ($0.07) EPS. Equities analysts forecast that Nerdy will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Nerdy

In other Nerdy news, Director Abigail Blunt bought 49,045 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average price of $0.91 per share, for a total transaction of $44,630.95. Following the completion of the purchase, the director now owns 50,045 shares of the company’s stock, valued at approximately $45,540.95. This represents a 4,900.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Abigail Blunt acquired 49,045 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $0.91 per share, for a total transaction of $44,630.95. Following the transaction, the director now owns 50,045 shares in the company, valued at $45,540.95. This represents a 4,900.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles K. Cohn acquired 2,170,291 shares of Nerdy stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $1.03 per share, with a total value of $2,235,399.73. Following the transaction, the chief executive officer now owns 13,025,870 shares of the company’s stock, valued at $13,416,646.10. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 13,212,528 shares of company stock worth $12,063,972. 31.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nerdy

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in Nerdy by 11.6% during the second quarter. Rhumbline Advisers now owns 84,739 shares of the company’s stock worth $142,000 after purchasing an additional 8,834 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Nerdy in the second quarter valued at $34,000. SG Americas Securities LLC acquired a new position in shares of Nerdy during the 3rd quarter worth $29,000. AM Investment Strategies LLC purchased a new stake in shares of Nerdy in the 3rd quarter worth about $29,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Nerdy in the 1st quarter worth about $101,000. 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.