Nerdy (NYSE:NRDY) Upgraded at Wall Street Zen

Nerdy (NYSE:NRDY) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Cantor Fitzgerald lowered their price objective on Nerdy from $1.75 to $1.50 and set a “neutral” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.38.

Nerdy Trading Down 14.1%

NRDY stock opened at $1.29 on Friday. The company has a market capitalization of $235.21 million, a PE ratio of -3.31 and a beta of 1.87. Nerdy has a 12-month low of $0.73 and a 12-month high of $2.18. The business’s fifty day moving average price is $1.61 and its 200 day moving average price is $1.62.

Nerdy (NYSE:NRDY) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. Nerdy had a negative net margin of 24.91% and a negative return on equity of 73.33%. The company had revenue of $45.26 million during the quarter, compared to analysts’ expectations of $46.60 million. Research analysts predict that Nerdy will post -0.43 EPS for the current fiscal year.

Insider Activity

In other Nerdy news, insider Christopher C. Swenson sold 53,514 shares of Nerdy stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $1.67, for a total value of $89,368.38. Following the sale, the insider owned 1,612,388 shares of the company’s stock, valued at approximately $2,692,687.96. The trade was a 3.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason H. Pello sold 76,794 shares of Nerdy stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $1.67, for a total transaction of $128,245.98. Following the sale, the chief financial officer owned 1,960,134 shares of the company’s stock, valued at approximately $3,273,423.78. The trade was a 3.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,556 shares of company stock valued at $293,684 over the last three months. 50.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nerdy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd purchased a new stake in Nerdy in the 4th quarter valued at approximately $26,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Nerdy during the first quarter worth about $26,000. Voya Investment Management LLC acquired a new position in shares of Nerdy in the first quarter worth about $30,000. ProShare Advisors LLC lifted its stake in shares of Nerdy by 55.2% in the fourth quarter. ProShare Advisors LLC now owns 21,350 shares of the company’s stock worth $35,000 after acquiring an additional 7,594 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Nerdy by 33.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,263 shares of the company’s stock worth $50,000 after acquiring an additional 7,607 shares in the last quarter. 39.10% of the stock is currently owned by institutional investors and hedge funds.

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.