Nerdy (NYSE:NRDY) Downgraded to Hold at Northland Capmk

Northland Capmk downgraded shares of Nerdy (NYSE:NRDY) from a strong-buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

Other research analysts have also issued reports about the stock. Needham & Company LLC decreased their price target on shares of Nerdy from $4.00 to $2.00 and set a buy rating on the stock in a research note on Friday. Canaccord Genuity Group downgraded shares of Nerdy from a buy rating to a hold rating and cut their price objective for the company from $5.00 to $3.00 in a report on Friday. Barclays cut their price objective on shares of Nerdy from $4.00 to $3.00 and set an equal weight rating for the company in a report on Friday. JMP Securities cut their price objective on shares of Nerdy from $5.00 to $3.00 and set a market outperform rating for the company in a report on Friday. Finally, Northland Securities downgraded shares of Nerdy from an outperform rating to a market perform rating and cut their price objective for the company from $5.00 to $3.00 in a report on Friday. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $3.58.

Nerdy Stock Performance

Shares of NYSE NRDY traded down $0.76 during mid-day trading on Friday, hitting $0.83. The stock had a trading volume of 21,429,245 shares, compared to its average volume of 1,340,458. The company has a 50 day moving average of $1.65 and a two-hundred day moving average of $2.36. Nerdy has a twelve month low of $0.82 and a twelve month high of $5.13. The firm has a market cap of $145.09 million, a PE ratio of -2.95 and a beta of 1.73.

Nerdy (NYSE:NRDY) last posted its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. Nerdy had a negative net margin of 14.49% and a negative return on equity of 41.24%. The business had revenue of $53.73 million for the quarter, compared to analyst estimates of $52.20 million. During the same period in the prior year, the company posted ($0.12) EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts predict that Nerdy will post -0.31 EPS for the current fiscal year.

Insider Transactions at Nerdy

In related news, CEO Charles K. Cohn bought 353,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $1.59 per share, for a total transaction of $561,270.00. Following the acquisition, the chief executive officer now owns 353,000 shares of the company’s stock, valued at $561,270. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Charles K. Cohn bought 353,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $1.59 per share, for a total transaction of $561,270.00. Following the acquisition, the chief executive officer now owns 353,000 shares of the company’s stock, valued at $561,270. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason H. Pello sold 37,360 shares of Nerdy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $2.07, for a total transaction of $77,335.20. Following the completion of the sale, the chief financial officer now owns 2,438,689 shares of the company’s stock, valued at approximately $5,048,086.23. The disclosure for this sale can be found here. Insiders bought 1,200,275 shares of company stock worth $2,131,511 in the last 90 days. Insiders own 31.35% of the company’s stock.

Hedge Funds Weigh In On Nerdy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in Nerdy in the 2nd quarter valued at approximately $34,000. SG Americas Securities LLC purchased a new position in Nerdy in the 4th quarter valued at approximately $50,000. Tower Research Capital LLC TRC boosted its position in Nerdy by 1,765.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,051 shares of the company’s stock valued at $52,000 after buying an additional 14,244 shares during the period. Bayesian Capital Management LP purchased a new position in Nerdy in the 1st quarter valued at approximately $101,000. Finally, Certuity LLC purchased a new position in Nerdy in the 4th quarter valued at approximately $120,000. 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.