Barclays Trims Nerdy (NYSE:NRDY) Price Target at $3.00

Nerdy (NYSE:NRDY – Free Report) had its price target cut by Barclays from $4.00 to $3.00 in a report on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have recently issued research reports on the company. Northland Securities cut Nerdy from an outperform rating to a market perform rating and cut their price target for the stock from $5.00 to $3.00 in a research note on Friday. JPMorgan Chase & Co. cut Nerdy from an overweight rating to a neutral rating in a research note on Friday. Raymond James cut Nerdy from an outperform rating to a market perform rating in a research note on Friday. Goldman Sachs Group boosted their price target on Nerdy from $3.25 to $3.75 and gave the stock a neutral rating in a research note on Thursday, May 9th. Finally, Needham & Company LLC reiterated a buy rating and set a $4.00 price objective on shares of Nerdy in a research report on Friday, May 17th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $3.58.

See the latest stock analysis on NRDY

Nerdy stock performance

Shares of NYSE NRDY traded down $0.05 during mid-day trading on Friday, reaching $0.78. 1,947,835 shares of the stock traded hands, compared to its average volume of 1,344,613. Nerdy has a 52 week low of $0.74 and a 52 week high of $5.13. The company has a market cap of $136.45 million, a price-to-earnings ratio of -2.95 and a beta of 1.73. The stock has a fifty day moving average price of $1.65 and a 200 day moving average price of $2.36.

Nerdy (NYSE:NRDY – Get Free Report ) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $50.98 million during the quarter, compared to analysts’ expectations of $51.14 million. Nerdy had a negative return on equity of 41.24% and a negative net margin of 14.49%. In the same quarter last year, the company earned ($0.07) earnings per share. As a group, sell-side analysts anticipate that Nerdy will post -0.31 EPS for the current fiscal year.

Insider buying and selling

In other news, CEO Charles K. Cohn purchased 347,275 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average cost of $1.93 per share, for a total transaction of $670,240.75. Following the completion of the transaction, the chief executive officer now owns 2,117,526 shares of the company’s stock, valued at $4,086,825.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In related news, CEO Charles K. Cohn acquired 347,275 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $1.93 per share, for a total transaction of $670,240.75. Following the completion of the transaction, the chief executive officer now directly owns 2,117,526 shares in the company, valued at approximately $4,086,825.18. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, CEO Charles K. Cohn acquired 500,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were bought at an average price of $1.80 per share, for a total transaction of $900,000.00. Following the completion of the transaction, the chief executive officer now owns 1,422,976 shares of the company’s stock, valued at $2,561,356.80. Disclosure for this purchase can be found here. Over the last three months, insiders bought 1,200,275 shares of company stock worth $2,131,511. Corporate insiders own 31.35% of the company’s shares.

Nerdy’s Institutional Trading

Several hedge funds and other institutional investors have recently bought and sold shares of NRDY. Greenvale Capital LLP boosted its position in Nerdy by 2.9% in the 4th quarter. Greenvale Capital LLP now owns 8,490,996 shares of the company’s stock valued at $29,124,000 after acquiring an additional 240,996 shares in the last quarter . S Squared Technology LLC boosted its position in Nerdy by 582.6% during the 4th quarter. S Squared Technology LLC now owns 204,786 shares of the company’s stock valued at $702,000 after acquiring an additional 174,786 shares in the last quarter. ACR Alpine Capital Research LLC boosted its position in Nerdy by 15.7% in the first quarter. ACR Alpine Capital Research LLC now owns 952,062 shares of the company’s stock valued at $2,770,000 after acquiring an additional 129,090 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Nerdy by 2.9% in the first quarter. Vanguard Group Inc. now owns 3,101,444 shares of the company’s stock worth $9,025,000 after buying an additional 88,771 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Nerdy by 28.5% in the second quarter. Bank of New York Mellon Corp now owns 261,917 shares of the company’s stock worth $437,000 after buying an additional 58,152 shares during the last quarter. Institutional investors own 39.10% of the company’s shares.

Nerd Company Profile

(Get a free report)

Nerdy, Inc operates a live online learning platform. The company’s own purpose-built platform uses technology, including artificial intelligence, to connect students, users, parents, guardians and shoppers of all ages to tutors, instructors, subject matter experts, educators and other professionals, providing value on both sides of the network.

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