Nerdy (NYSE:NRDY) Announces Earnings Results

Nerdy (NYSE:NRDY) issued its earnings results on Tuesday. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04, Briefing.com reports. Nerdy had a negative return on equity of 48.96% and a negative net margin of 20.77%. The business had revenue of $53.73 million during the quarter, compared to analyst estimates of $52.20 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. Nerdy’s revenue was up 9.2% on a year-over-year basis.

Nerdy Stock Up 0.8 %

Shares of Nerdy stock traded up $0.02 during trading hours on Thursday, reaching $2.44. 194,095 shares of the stock traded hands, compared to its average volume of 1,111,646. The company has a 50 day moving average price of $2.79 and a 200 day moving average price of $2.95. The firm has a market capitalization of $423.85 million, a price-to-earnings ratio of -5.74 and a beta of 1.90. Nerdy has a one year low of $1.92 and a one year high of $5.37.

Analyst Ratings Changes

A number of brokerages have weighed in on NRDY. The Goldman Sachs Group boosted their target price on Nerdy from $3.25 to $3.75 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. began coverage on Nerdy in a research report on Monday, March 11th. They issued an “overweight” rating and a $5.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $4.00 price target on shares of Nerdy in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.82.

Insider Activity at Nerdy

In related news, CEO Charles K. Cohn acquired 67,991 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average cost of $2.88 per share, for a total transaction of $195,814.08. Following the purchase, the chief executive officer now owns 10,855,579 shares in the company, valued at approximately $31,264,067.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Charles K. Cohn acquired 67,991 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average cost of $2.88 per share, for a total transaction of $195,814.08. Following the purchase, the chief executive officer now owns 10,855,579 shares in the company, valued at approximately $31,264,067.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason H. Pello sold 41,896 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $3.13, for a total value of $131,134.48. Following the completion of the transaction, the chief financial officer now owns 1,505,244 shares of the company’s stock, valued at $4,711,413.72. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 217,991 shares of company stock worth $629,314 and sold 126,091 shares worth $370,371. 31.35% of the stock is currently owned by corporate 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.