Northland Securities Issues Pessimistic Forecast for Nerdy (NYSE:NRDY) Stock Price

Nerdy (NYSE:NRDY) had its price objective cut by analysts at Northland Securities from $3.00 to $2.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 144.44% from the company’s previous close.

NRDY has been the subject of several other research reports. Barclays cut their price target on shares of Nerdy from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Canaccord Genuity Group reiterated a “hold” rating and set a $3.00 price objective (down from $5.00) on shares of Nerdy in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered Nerdy from an “overweight” rating to a “neutral” rating in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1.00 target price (down previously from $6.00) on shares of Nerdy in a research note on Friday. Finally, Canaccord Genuity Group cut shares of Nerdy from a “buy” rating to a “hold” rating and reduced their target price for the company from $5.00 to $3.00 in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.98.

Nerdy Trading Down 8.1 %

Shares of NYSE NRDY traded down $0.07 during trading on Friday, reaching $0.82. 3,006,263 shares of the company traded hands, compared to its average volume of 1,601,123. The stock has a market cap of $145.68 million, a P/E ratio of -2.49 and a beta of 1.68. The firm’s fifty day simple moving average is $0.98 and its 200 day simple moving average is $1.48. Nerdy has a 12-month low of $0.73 and a 12-month high of $3.60.

Nerdy (NYSE:NRDY) last posted its earnings results on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. The firm had revenue of $50.98 million during the quarter, compared to analyst estimates of $51.14 million. Nerdy had a negative net margin of 17.23% and a negative return on equity of 41.05%. During the same period in the previous year, the firm earned ($0.07) EPS. As a group, research analysts expect that Nerdy will post -0.48 EPS for the current year.

Insider Activity

In other Nerdy news, CFO Jason H. Pello sold 50,903 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $0.85, for a total transaction of $43,267.55. Following the completion of the sale, the chief financial officer now owns 2,356,200 shares of the company’s stock, valued at $2,002,770. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Jason H. Pello sold 50,903 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $0.85, for a total value of $43,267.55. Following the transaction, the chief financial officer now directly owns 2,356,200 shares in the company, valued at approximately $2,002,770. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jason H. Pello sold 30,282 shares of Nerdy stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $0.99, for a total transaction of $29,979.18. Following the completion of the sale, the chief financial officer now owns 2,325,918 shares of the company’s stock, valued at $2,302,658.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 13,212,528 shares of company stock valued at $12,063,972 in the last 90 days. Company insiders own 31.35% of the company’s stock.

Institutional Investors Weigh In On Nerdy

Several large investors have recently bought and sold shares of NRDY. AM Investment Strategies LLC acquired a new position in shares of Nerdy during the 3rd quarter worth about $29,000. Ritholtz Wealth Management purchased a new stake in shares of Nerdy during the 3rd quarter worth approximately $867,000. SG Americas Securities LLC acquired a new position in shares of Nerdy in the 3rd quarter valued at $29,000. Cubist Systematic Strategies LLC grew its position in shares of Nerdy by 286.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 259,822 shares of the company’s stock valued at $434,000 after buying an additional 192,635 shares during the last quarter. Finally, Greenvale Capital LLP raised its stake in Nerdy by 6.0% during the 2nd quarter. Greenvale Capital LLP now owns 9,000,000 shares of the company’s stock worth $15,030,000 after acquiring an additional 509,004 shares in the last quarter. 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.