Nerdy (NYSE:NRDY) Earns Market Perform Rating from JMP Securities

Nerdy (NYSE:NRDY)‘s stock had its “market perform” rating reiterated by equities research analysts at JMP Securities in a research note issued to investors on Friday, Marketbeat reports.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Nerdy from an “overweight” rating to a “neutral” rating in a report on Friday, August 9th. Cantor Fitzgerald raised Nerdy to a “strong-buy” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group restated a “hold” rating and issued a $3.00 price target (down previously from $5.00) on shares of Nerdy in a report on Friday, August 9th. Northland Capmk downgraded shares of Nerdy from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Canaccord Genuity Group lowered shares of Nerdy from a “buy” rating to a “hold” rating and cut their target price for the company from $5.00 to $3.00 in a research note 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 stock currently has an average rating of “Hold” and a consensus price target of $2.86.

Nerdy Price Performance

NRDY traded down $0.06 on Friday, reaching $0.83. 3,654,546 shares of the stock were exchanged, compared to its average volume of 1,183,026. The company’s 50-day moving average price is $0.97 and its 200 day moving average price is $1.46. The firm has a market capitalization of $146.93 million, a PE ratio of -2.50 and a beta of 1.68. Nerdy has a fifty-two week low of $0.73 and a fifty-two week high of $3.60.

Nerdy (NYSE:NRDY) last announced its quarterly 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. Nerdy had a negative return on equity of 41.05% and a negative net margin of 17.23%. The business had revenue of $50.98 million for the quarter, compared to analyst estimates of $51.14 million. During the same quarter in the prior year, the company posted ($0.07) EPS. As a group, equities analysts forecast that Nerdy will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Abigail Blunt acquired 49,045 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $0.91 per share, for a total transaction of $44,630.95. Following the purchase, the director now owns 50,045 shares of the company’s stock, valued at approximately $45,540.95. The trade was a 4,900.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Charles K. Cohn acquired 10,993,192 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $0.89 per share, for a total transaction of $9,783,940.88. Following the acquisition, the chief executive officer now owns 13,110,718 shares of the company’s stock, valued at $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 SEC, which is available at this link. Also, Director Abigail Blunt bought 49,045 shares of Nerdy stock in a transaction dated Wednesday, September 11th. The stock was acquired 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 approximately $45,540.95. This trade represents a 4,900.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 13,212,528 shares of company stock worth $12,063,972. Insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Nerdy during the third quarter valued at $29,000. AM Investment Strategies LLC bought a new position in Nerdy in the 3rd quarter worth about $29,000. nVerses Capital LLC purchased a new stake in Nerdy in the second quarter worth about $34,000. Bayesian Capital Management LP bought a new position in shares of Nerdy in the 1st quarter worth $101,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in Nerdy in the third quarter valued at approximately $138,000. 39.10% of the stock is currently owned by hedge funds and other institutional investors.

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.