Nerdy (NYSE:NRDY) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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

Nerdy Stock Performance

NYSE:NRDY traded down $0.19 during mid-day trading on Wednesday, reaching $2.46. 4,464,256 shares of the company’s stock were exchanged, compared to its average volume of 1,112,004. Nerdy has a one year low of $1.92 and a one year high of $5.37. The business’s fifty day simple moving average is $2.79 and its two-hundred day simple moving average is $2.96. The firm has a market capitalization of $427.33 million, a PE ratio of -5.29 and a beta of 1.90.

Insiders Place Their Bets

In related news, insider Christopher C. Swenson sold 25,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $2.96, for a total transaction of $74,000.00. Following the completion of the transaction, the insider now directly owns 1,233,248 shares of the company’s stock, valued at approximately $3,650,414.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Christopher C. Swenson sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $2.96, for a total value of $74,000.00. Following the completion of the sale, the insider now directly owns 1,233,248 shares in the company, valued at approximately $3,650,414.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher C. Swenson sold 30,000 shares of Nerdy stock in a transaction that occurred 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 transaction, the insider now directly owns 1,203,248 shares in the company, valued at approximately $3,044,217.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 217,991 shares of company stock worth $629,314 and have sold 126,091 shares worth $370,371. Corporate insiders own 31.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NRDY. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Nerdy in a research report on Wednesday. JPMorgan Chase & Co. began coverage on shares of Nerdy in a report on Monday, March 11th. They issued an “overweight” rating and a $5.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.71.

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.