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

Nerdy (NYSE:NRDY - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (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 revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share.

Nerdy Trading Down 9.1 %

NRDY traded down $0.24 on Wednesday, reaching $2.41. The stock had a trading volume of 5,275,752 shares, compared to its average volume of 1,122,632. The firm has a 50-day moving average of $2.79 and a 200-day moving average of $2.96. Nerdy has a fifty-two week low of $1.92 and a fifty-two week high of $5.37. The company has a market capitalization of $418.64 million, a price-to-earnings ratio of -5.29 and a beta of 1.90.

Analysts Set New Price Targets

NRDY has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $4.00 price target on shares of Nerdy in a research note on Wednesday. JPMorgan Chase & Co. began coverage on Nerdy in a research note on Monday, March 11th. They set an "overweight" rating and a $5.00 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.71.

Insider Activity at Nerdy

In other Nerdy news, CEO Charles K. Cohn bought 67,991 shares of Nerdy stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $2.88 per share, with a total value of $195,814.08. Following the acquisition, the chief executive officer now directly owns 10,855,579 shares of the company's stock, valued at approximately $31,264,067.52. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Christopher C. Swenson sold 30,000 shares of the company's stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $2.53, for a total value of $75,900.00. Following the sale, the insider now directly owns 1,203,248 shares in the company, valued at $3,044,217.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles K. Cohn acquired 67,991 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $2.88 per share, with a total value of $195,814.08. Following the completion of the transaction, the chief executive officer now owns 10,855,579 shares of the company's stock, valued at $31,264,067.52. The disclosure for this purchase can be found here. In the last quarter, 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 owned by company insiders.

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.