Nerdy (NYSE:NRDY – Get Free Report) had its target price lifted by equities researchers at Cantor Fitzgerald from $6.00 to $8.00 in a report released on Wednesday, FlyOnTheWall reports. Cantor Fitzgerald’s price target indicates a potential upside of 56.56% from the stock’s previous close.
Separately, Barclays boosted their price objective on shares of Nerdy from $3.50 to $5.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Nerdy presently has an average rating of “Moderate Buy” and an average price target of $5.08.
Check Out Our Latest Report on Nerdy
Nerdy Stock Performance
Nerdy (NYSE:NRDY – Get Free Report) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Nerdy had a negative return on equity of 96.19% and a negative net margin of 22.73%. The firm had revenue of $49.18 million for the quarter, compared to the consensus estimate of $46.46 million. As a group, equities research analysts forecast that Nerdy will post -0.69 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Charles K. Cohn bought 25,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $3.11 per share, for a total transaction of $77,750.00. Following the purchase, the chief executive officer now owns 10,534,759 shares in the company, valued at $32,763,100.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christopher C. Swenson sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $3.90, for a total transaction of $136,500.00. Following the sale, the insider now directly owns 1,320,176 shares of the company’s stock, valued at approximately $5,148,686.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles K. Cohn purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were acquired at an average cost of $3.11 per share, for a total transaction of $77,750.00. Following the purchase, the chief executive officer now owns 10,534,759 shares of the company’s stock, valued at $32,763,100.49. The disclosure for this purchase can be found here. Insiders purchased a total of 120,600 shares of company stock worth $379,824 over the last quarter. 38.83% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Nerdy by 3,036.0% in the 1st quarter. Royal Bank of Canada now owns 5,488 shares of the company’s stock worth $28,000 after purchasing an additional 5,313 shares during the period. Goodwin Daniel L bought a new stake in shares of Nerdy during the second quarter worth $42,000. Price T Rowe Associates Inc. MD purchased a new position in Nerdy in the 1st quarter worth about $45,000. Citigroup Inc. purchased a new stake in shares of Nerdy in the first quarter valued at approximately $55,000. Finally, FourThought Financial Partners LLC purchased a new position in shares of Nerdy during the fourth quarter valued at $25,000. Institutional investors own 37.21% of the company’s stock.
About Nerdy
Nerdy, Inc operates platform for live online learning. The company's purpose-built proprietary platform leverages technology, including AI 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.
Read More
- Five stocks we like better than Nerdy
- Bank Stocks – Best Bank Stocks to Invest In
- 2 Tech Stocks to Buy and One to Avoid in August
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- AI is Turning Things Up for Upwork
- How to Invest in Esports
- 5 Best Fintech Stocks to Buy Now
Receive News & Ratings for Nerdy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nerdy and related companies with MarketBeat.com's FREE daily email newsletter.
