Northland Securities Lowers Nerdy (NYSE:NRDY) Price Target to $2.00

Nerdy (NYSE:NRDY) had its target price decreased by Northland Securities from $3.00 to $2.00 in a research note issued to investors on Friday morning,Benzinga reports. Northland Securities currently has a market perform rating on the stock.

A number of other analysts have also recently weighed in on the company. Canaccord Genuity Group reiterated a “hold” rating and issued a $3.00 price target (down from $5.00) on shares of Nerdy in a research report on Friday, August 9th. Northland Capmk downgraded shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Raymond James lowered shares of Nerdy from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Barclays cut their price target on Nerdy from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $2.00 price target on shares of Nerdy in a research report on Friday. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.86.

Nerdy Trading Down 7.3 %

NRDY traded down $0.06 on Friday, hitting $0.83. 3,654,546 shares of the stock traded hands, compared to its average volume of 1,183,026. Nerdy has a 52 week low of $0.73 and a 52 week high of $3.60. The firm has a market capitalization of $146.93 million, a PE ratio of -2.51 and a beta of 1.68. The business has a fifty day moving average price of $0.97 and a two-hundred day moving average price of $1.47.

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

Insider Activity

In other Nerdy news, CEO Charles K. Cohn bought 10,993,192 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $0.89 per share, for a total transaction of $9,783,940.88. Following the transaction, the chief executive officer now directly owns 13,110,718 shares in the company, valued at approximately $11,668,539.02. This trade represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Jason H. Pello sold 30,282 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $0.99, for a total transaction of $29,979.18. Following the completion of the sale, the chief financial officer now owns 2,325,918 shares in the company, valued at approximately $2,302,658.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles K. Cohn bought 10,993,192 shares of the business’s stock in a transaction that occurred on 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 $11,668,539.02. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 13,212,528 shares of company stock valued at $12,063,972. 31.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nerdy

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Nerdy during the third quarter valued at about $29,000. AM Investment Strategies LLC acquired a new position in shares of Nerdy during the 3rd quarter worth $29,000. nVerses Capital LLC acquired a new position in shares of Nerdy during the 2nd quarter valued at about $34,000. Bayesian Capital Management LP purchased a new stake in shares of Nerdy during the 1st quarter valued at about $101,000. Finally, Citizens Financial Group Inc. RI bought a new stake in Nerdy during the third quarter valued at $138,000. Hedge funds and other institutional investors 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.