Nerdy, Inc. (NYSE:NRDY – Get Rating) was the target of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 1,850,000 shares, a decline of 27.5% from the April 15th total of 2,550,000 shares. Approximately 6.3% of the shares of the company are short sold. Based on an average trading volume of 450,700 shares, the days-to-cover ratio is presently 4.1 days.
In other Nerdy news, CEO Charles K. Cohn bought 221,408 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were acquired at an average cost of $4.52 per share, with a total value of $1,000,764.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 31.08% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NRDY. Fuller & Thaler Asset Management Inc. acquired a new position in Nerdy in the 1st quarter worth about $1,332,000. ACR Alpine Capital Research LLC acquired a new position in Nerdy in the 1st quarter worth about $696,000. Vanguard Group Inc. increased its holdings in Nerdy by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 2,344,570 shares of the company’s stock worth $11,934,000 after purchasing an additional 76,776 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Nerdy by 241.3% in the 1st quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $542,000 after purchasing an additional 75,300 shares in the last quarter. Finally, Davy Global Fund Management Ltd acquired a new position in Nerdy in the 1st quarter worth about $164,000. 56.01% of the stock is owned by institutional investors and hedge funds.
Shares of NRDY stock opened at $2.84 on Friday. Nerdy has a twelve month low of $2.53 and a twelve month high of $13.49. The company has a market cap of $449.00 million, a P/E ratio of -23.66 and a beta of 0.52. The business has a fifty day simple moving average of $4.17 and a 200 day simple moving average of $4.92.
Nerdy (NYSE:NRDY – Get Rating) last announced its quarterly earnings data on Monday, February 28th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.39. Nerdy had a negative return on equity of 117.54% and a negative net margin of 7.00%. The business had revenue of $42.02 million during the quarter, compared to the consensus estimate of $41.65 million. On average, analysts anticipate that Nerdy will post -0.91 EPS for the current year.
Several analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on Nerdy in a research note on Tuesday, March 29th. They issued an “overweight” rating and a $7.00 price target for the company. Zacks Investment Research upgraded Nerdy from a “sell” rating to a “hold” rating in a research note on Thursday, January 20th. JMP Securities reduced their price target on Nerdy from $13.00 to $11.00 and set a “market outperform” rating for the company in a research note on Tuesday, March 1st. Barclays reduced their price target on Nerdy from $9.00 to $5.00 in a research note on Tuesday, March 1st. Finally, Raymond James reduced their price target on Nerdy from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Nerdy presently has a consensus rating of “Buy” and an average target price of $9.67.
Nerdy Company Profile (Get Rating)
Nerdy, Inc operates platform for live online learning. The company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of various ages to experts, delivering value on both sides of the network. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group classes, large format group classes, and adaptive self-study.
