Nerdy (NYSE:NRDY) Cut to Sell at Wall Street Zen
by Teresa Graham · The Cerbat GemWall Street Zen lowered shares of Nerdy (NYSE:NRDY – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nerdy in a research report on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $1.00.
Read Our Latest Report on NRDY
Nerdy Trading Down 3.2%
Shares of Nerdy stock opened at $0.68 on Friday. The stock has a fifty day simple moving average of $0.86 and a 200 day simple moving average of $0.88. Nerdy has a 12-month low of $0.64 and a 12-month high of $1.49. The company has a market capitalization of $131.10 million, a P/E ratio of -2.74 and a beta of 1.73. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.75.
Nerdy (NYSE:NRDY – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $43.23 million for the quarter, compared to analysts’ expectations of $43.00 million. Nerdy had a negative return on equity of 100.13% and a negative net margin of 16.99%. On average, sell-side analysts anticipate that Nerdy will post -0.15 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Nerdy news, CEO Charles K. Cohn acquired 258,204 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $0.97 per share, with a total value of $250,457.88. Following the completion of the transaction, the chief executive officer owned 477,223 shares in the company, valued at approximately $462,906.31. This trade represents a 117.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired a total of 978,311 shares of company stock valued at $950,853 over the last 90 days. 50.99% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Nerdy
Several large investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC boosted its holdings in shares of Nerdy by 170.7% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 237,883 shares of the company’s stock worth $300,000 after buying an additional 150,000 shares during the last quarter. Marshall Wace LLP bought a new position in Nerdy during the second quarter valued at about $221,000. Bridgeway Capital Management LLC increased its holdings in Nerdy by 62.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 265,100 shares of the company’s stock worth $276,000 after buying an additional 102,400 shares during the last quarter. Bank of America Corp DE increased its holdings in Nerdy by 236.2% during the second quarter. Bank of America Corp DE now owns 123,534 shares of the company’s stock worth $201,000 after buying an additional 86,791 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Nerdy in the fourth quarter worth about $78,000. 39.10% of the stock is owned by hedge funds and other institutional investors.
Nerdy Company Profile
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.