Nerdy (NYSE:NRDY) Announces Quarterly Earnings Results

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

Nerdy Trading Down 11.7 %

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on NRDY. JPMorgan Chase & Co. started coverage on shares of Nerdy in a report on Monday, March 11th. They issued an “overweight” rating and a $5.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $4.00 target price on shares of Nerdy in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4.71.

Insiders Place Their Bets

In other news, insider Christopher C. Swenson sold 30,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $2.53, for a total transaction of $75,900.00. Following the sale, the insider now directly owns 1,203,248 shares in the company, valued at $3,044,217.44. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Nerdy news, CEO Charles K. Cohn acquired 75,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average price of $2.79 per share, for a total transaction 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 is available through this link. Also, insider Christopher C. Swenson sold 30,000 shares of Nerdy stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $2.53, for a total value of $75,900.00. Following the sale, the insider now directly owns 1,203,248 shares of the company’s stock, valued at approximately $3,044,217.44. The disclosure for this sale can be found here. In the last quarter, insiders purchased 217,991 shares of company stock worth $629,314 and sold 126,091 shares worth $370,371. 31.35% of the stock is owned by corporate 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.