Nerdy (NYSE:NRDY) Sets New 12-Month Low - What's Next?

Key Points

• Nerdy shares hit a new 52-week low of $9.15 before recovering to $10.896, up 6.5% from the prior close.
• Analyst sentiment remains cautious: the consensus rating is “Reduce,” with one Hold and one Sell rating and a $15 target price.
• Nerdy beat quarterly EPS and revenue estimates, but remained unprofitable, reporting a $0.60 per-share loss and a negative 16.99% net margin; insiders have continued buying shares.

Nerdy Inc. (NYSE:NRDY - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $9.15 and last traded at $10.8960, with a volume of 7923 shares traded. The stock had previously closed at $9.8085.

Wall Street Analysts Forecast Growth

NRDY has been the subject of several research reports. Wall Street Zen cut shares of Nerdy from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Nerdy in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $15.00.

Nerdy Stock Up 6.5%

The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.75. The firm has a market cap of $2.00 billion, a PE ratio of -41.80 and a beta of 1.73. The business's 50-day simple moving average is $0.86 and its 200 day simple moving average is $0.88.

Nerdy (NYSE:NRDY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.75) by $0.15. The firm had revenue of $43.23 million for the quarter, compared to the consensus estimate of $43.00 million. Nerdy had a negative net margin of 16.99% and a negative return on equity of 100.13%. As a group, equities research analysts expect that Nerdy Inc. will post -0.15 earnings per share for the current year.

Insider Transactions at Nerdy

In related news, CEO Charles K. Cohn purchased 16,667 shares of the business's stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $250,005.00. Following the acquisition, the chief executive officer owned 65,220 shares of the company's stock, valued at $978,300. The trade was a 34.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders acquired 65,219 shares of company stock worth $950,828. 50.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nerdy

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Nerdy by 41.9% in the fourth quarter. Bank of America Corp DE now owns 60,565 shares of the company's stock valued at $98,000 after purchasing an additional 17,889 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Nerdy by 67.9% in the 1st quarter. AQR Capital Management LLC now owns 37,660 shares of the company's stock valued at $53,000 after buying an additional 15,234 shares in the last quarter. Strs Ohio purchased a new position in shares of Nerdy in the 1st quarter worth approximately $56,000. Marshall Wace LLP purchased a new position in shares of Nerdy in the 2nd quarter worth approximately $221,000. Finally, Jane Street Group LLC raised its stake in shares of Nerdy by 27.0% during the 2nd quarter. Jane Street Group LLC now owns 83,470 shares of the company's stock worth $136,000 after acquiring an additional 17,768 shares in the last quarter. Institutional investors own 39.10% of the company's stock.

About Nerdy

Nerdy, Inc NYSE: NRDY is an American education technology company that operates a live online learning marketplace. Through its flagship Varsity Tutors platform, the company connects students, professionals and lifelong learners with a network of thousands of educators for personalized one-on-one tutoring, group classes and test preparation. The platform leverages proprietary matching algorithms to pair learners with instructors based on subject expertise, learning style and scheduling preferences.

Founded in 2007 by entrepreneur Chuck Cohn, Nerdy began as Varsity Tutors in Washington, DC, before establishing its headquarters in St.

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