Nerdy (NYSE:NRDY) Upgraded at Wall Street Zen

Key Points

• Nerdy (NYSE:NRDY) has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Cantor Fitzgerald has reduced its price target for Nerdy from $1.75 to $1.50, maintaining a "neutral" rating for the stock.
• Nerdy reported a quarterly EPS of ($0.07), which exceeded analysts' expectations but indicated a negative net margin of 24.91%.

Nerdy (NYSE:NRDY - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Cantor Fitzgerald dropped their price objective on Nerdy from $1.75 to $1.50 and set a "neutral" rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $1.75.

Nerdy Stock Performance

NRDY traded down $0.02 during midday trading on Friday, hitting $1.27. The stock had a trading volume of 886,439 shares, compared to its average volume of 800,150. The company has a market cap of $230.80 million, a P/E ratio of -3.24 and a beta of 1.87. The business has a fifty day moving average of $1.61 and a 200 day moving average of $1.62. Nerdy has a 1 year low of $0.73 and a 1 year high of $2.18.

Nerdy (NYSE:NRDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. The business had revenue of $45.26 million during the quarter, compared to analyst estimates of $46.60 million. Nerdy had a negative return on equity of 77.11% and a negative net margin of 24.91%. On average, equities research analysts anticipate that Nerdy will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jason H. Pello sold 76,794 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $1.67, for a total value of $128,245.98. Following the sale, the chief financial officer directly owned 1,960,134 shares of the company's stock, valued at approximately $3,273,423.78. This represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher C. Swenson sold 53,514 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $1.67, for a total value of $89,368.38. Following the completion of the sale, the insider directly owned 1,612,388 shares in the company, valued at approximately $2,692,687.96. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,556 shares of company stock valued at $293,684. 50.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nerdy

Institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC purchased a new stake in shares of Nerdy during the first quarter valued at $30,000. Strs Ohio purchased a new stake in shares of Nerdy during the first quarter valued at $56,000. AQR Capital Management LLC boosted its position in shares of Nerdy by 67.9% during the first 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 during the last quarter. Nuveen LLC purchased a new stake in shares of Nerdy during the first quarter valued at $508,000. Finally, XTX Topco Ltd purchased a new stake in shares of Nerdy during the first quarter valued at $188,000. 39.10% of the stock is owned by hedge funds and other institutional investors.

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.