Nerdy (NYSE:NRDY) PT Raised to $3.75

Nerdy (NYSE:NRDY) had its price target raised by equities research analysts at The Goldman Sachs Group from $3.25 to $3.75 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 55.60% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price target on shares of Nerdy in a research report on Wednesday. JPMorgan Chase & Co. initiated coverage on Nerdy in a research report on Monday, March 11th. They issued an “overweight” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.82.

Nerdy Price Performance

Shares of NRDY stock opened at $2.41 on Thursday. The firm’s 50-day simple moving average is $2.79 and its 200-day simple moving average is $2.95. Nerdy has a 1-year low of $1.92 and a 1-year high of $5.37. The firm has a market cap of $418.64 million, a P/E ratio of -5.74 and a beta of 1.90.

Nerdy (NYSE:NRDY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company 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%. Nerdy’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.12) EPS. Analysts expect that Nerdy will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jason H. Pello sold 41,896 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $3.13, for a total transaction of $131,134.48. Following the transaction, the chief financial officer now owns 1,505,244 shares of the company’s stock, valued at $4,711,413.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Nerdy news, CFO Jason H. Pello sold 41,896 shares of Nerdy stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $3.13, for a total transaction of $131,134.48. Following the completion of the sale, the chief financial officer now owns 1,505,244 shares of the company’s stock, valued at approximately $4,711,413.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles K. Cohn purchased 75,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was bought at an average cost of $2.79 per share, for a total transaction of $209,250.00. Following the purchase, the chief executive officer now owns 185,704 shares in the company, valued at $518,114.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 217,991 shares of company stock worth $629,314 and sold 126,091 shares worth $370,371. 31.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NRDY. Bank of New York Mellon Corp boosted its stake in shares of Nerdy by 23.6% during the third quarter. Bank of New York Mellon Corp now owns 210,466 shares of the company’s stock valued at $779,000 after purchasing an additional 40,132 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new stake in Nerdy during the 3rd quarter worth approximately $41,000. ACR Alpine Capital Research LLC increased its position in Nerdy by 7.9% in the 3rd quarter. ACR Alpine Capital Research LLC now owns 708,318 shares of the company’s stock valued at $2,621,000 after acquiring an additional 51,672 shares during the period. L2 Asset Management LLC bought a new position in shares of Nerdy during the third quarter valued at $168,000. Finally, Aigen Investment Management LP bought a new position in shares of Nerdy during the third quarter valued at $59,000. 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.