Nerdy’s (NRDY) Buy Rating Reiterated at Needham & Company LLC

Nerdy (NYSE:NRDY)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They currently have a $4.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 50.66% from the stock’s previous close.

Separately, JPMorgan Chase & Co. began coverage on shares of Nerdy in a research note on Monday, March 11th. They issued an “overweight” rating and a $5.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nerdy currently has an average rating of “Moderate Buy” and a consensus target price of $4.71.

Nerdy Stock Performance

Shares of NRDY stock opened at $2.66 on Wednesday. Nerdy has a fifty-two week low of $2.31 and a fifty-two week high of $5.37. The firm has a market capitalization of $461.20 million, a P/E ratio of -6.32 and a beta of 1.90. The stock’s fifty day moving average is $2.80 and its two-hundred day moving average is $2.96.

Nerdy (NYSE:NRDY) last released its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $53.73 million for the quarter, compared to analyst estimates of $52.20 million. Nerdy had a negative net margin of 20.77% and a negative return on equity of 48.96%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the company posted ($0.12) EPS. On average, equities analysts forecast that Nerdy will post -0.33 earnings per share for the current year.

Insider Activity at Nerdy

In other news, CFO Jason H. Pello sold 41,896 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $3.13, for a total value of $131,134.48. Following the transaction, the chief financial officer now owns 1,505,244 shares in the company, valued at approximately $4,711,413.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Jason H. Pello sold 41,896 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $3.13, for a total value of $131,134.48. Following the completion of the transaction, the chief financial officer now owns 1,505,244 shares in the company, valued at approximately $4,711,413.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles K. Cohn purchased 75,000 shares of the business’s 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 purchase, the chief executive officer now directly owns 185,704 shares in the company, valued at $518,114.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 217,991 shares of company stock valued at $629,314 and have sold 126,091 shares valued at $370,371. 31.35% of the stock is owned by corporate insiders.

Institutional Trading of Nerdy

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Nerdy in the fourth quarter valued at approximately $50,000. Aigen Investment Management LP purchased a new position in Nerdy during the 3rd quarter worth $59,000. ACR Alpine Capital Research LLC increased its stake in Nerdy by 16.2% in the fourth quarter. ACR Alpine Capital Research LLC now owns 822,972 shares of the company’s stock valued at $2,823,000 after purchasing an additional 114,654 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Nerdy by 24.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the company’s stock valued at $2,220,000 after buying an additional 116,700 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Nerdy by 1,765.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock worth $52,000 after buying an additional 14,244 shares during the period. 39.10% of the stock is 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.