Nerdy (NRDY) Projected to Post Earnings on Thursday

Nerdy (NYSE:NRDY) is anticipated to release its earnings data after the market closes on Thursday, February 27th. Analysts expect Nerdy to post earnings of ($0.14) per share and revenue of $44.99 million for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Nerdy Stock Down 2.1 %

Shares of Nerdy stock opened at $1.63 on Wednesday. Nerdy has a 52-week low of $0.73 and a 52-week high of $3.28. The company has a 50 day moving average of $1.75 and a 200 day moving average of $1.33. The company has a market capitalization of $293.11 million, a P/E ratio of -4.78 and a beta of 1.98.

Analyst Ratings Changes

A number of brokerages recently issued reports on NRDY. Northland Securities decreased their price target on shares of Nerdy from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of Nerdy from a “neutral” rating to an “underweight” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.00 target price on shares of Nerdy in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1.00 target price (down from $6.00) on shares of Nerdy in a report on Friday, November 8th. Finally, JMP Securities reissued a “market perform” rating on shares of Nerdy in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Nerdy has a consensus rating of “Hold” and an average target price of $2.86.

Insider Buying and Selling at Nerdy

In related news, CEO Charles K. Cohn acquired 2,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $1.99 per share, for a total transaction of $3,980,000.00. Following the acquisition, the chief executive officer now directly owns 30,509,191 shares in the company, valued at approximately $60,713,290.09. The trade was a 7.02 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jason H. Pello sold 81,381 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $1.80, for a total transaction of $146,485.80. Following the transaction, the chief financial officer now owns 2,143,805 shares in the company, valued at approximately $3,858,849. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,066,387 shares of company stock worth $5,714,047 and have sold 194,843 shares worth $344,177. 31.35% of the stock is owned by insiders.

Institutional Trading of Nerdy

An institutional investor recently raised its position in Nerdy stock. Bank of America Corp DE grew its holdings in shares of Nerdy, Inc. (NYSE:NRDY) by 41.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,565 shares of the company’s stock after buying an additional 17,889 shares during the quarter. Bank of America Corp DE’s holdings in Nerdy were worth $98,000 as of its most recent SEC filing. 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.