Nerdy (NYSE:NRDY) Releases Earnings Results, Beats Expectations By $0.04 EPS

Nerdy (NYSE:NRDY) released its earnings results on Tuesday. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $53.73 million for the quarter, compared to analyst estimates of $52.20 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis.

Nerdy Trading Down 6.0 %

Shares of NRDY traded down $0.16 during trading hours on Wednesday, reaching $2.49. 4,653,028 shares of the stock traded hands, compared to its average volume of 1,115,060. The company’s 50-day moving average price is $2.79 and its two-hundred day moving average price is $2.96. Nerdy has a 52-week low of $1.92 and a 52-week high of $5.37. The company has a market cap of $432.54 million, a P/E ratio of -5.29 and a beta of 1.90.

Wall Street Analyst Weigh In

NRDY has been the topic of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Nerdy in a report on Monday, March 11th. They issued an “overweight” rating and a $5.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Nerdy in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.71.

Insiders Place Their Bets

In other news, insider Christopher C. Swenson sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $2.53, for a total transaction of $75,900.00. Following the transaction, the insider now owns 1,203,248 shares of the company’s stock, valued at $3,044,217.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Nerdy news, insider Christopher C. Swenson sold 30,000 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $2.53, for a total value of $75,900.00. Following the completion of the sale, the insider now directly owns 1,203,248 shares in the company, valued at $3,044,217.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles K. Cohn purchased 67,991 shares of the company’s stock in a transaction on Monday, March 11th. The shares were purchased at an average price 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 disclosure for this purchase can be found here. In the last three months, insiders acquired 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.

Nerdy Company Profile

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.