Stride (NYSE:LRN) Shares Down 4.9% – Here’s Why

Stride, Inc. (NYSE:LRN)’s share price fell 4.9% during mid-day trading on Monday . The company traded as low as $140.40 and last traded at $138.28. 74,123 shares were traded during mid-day trading, a decline of 91% from the average session volume of 854,936 shares. The stock had previously closed at $145.46.

Wall Street Analysts Forecast Growth

LRN has been the topic of several recent research reports. BMO Capital Markets restated an “outperform” rating on shares of Stride in a research report on Thursday, May 1st. Barrington Research lifted their price target on Stride from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. William Blair reissued an “outperform” rating on shares of Stride in a report on Wednesday, April 30th. Wall Street Zen cut shares of Stride from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Canaccord Genuity Group lifted their target price on shares of Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.83.

Stride Stock Down 2.4%

The stock has a market capitalization of $6.18 billion, a P/E ratio of 23.74, a PEG ratio of 1.04 and a beta of 0.35. The stock has a 50 day moving average price of $144.64 and a 200-day moving average price of $128.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.07). The company had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. Stride had a return on equity of 22.42% and a net margin of 12.30%. Stride’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. As a group, research analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Institutional Trading of Stride

Hedge funds have recently made changes to their positions in the stock. Asset Management One Co. Ltd. bought a new stake in Stride in the fourth quarter worth $5,696,000. Congress Asset Management Co. raised its position in shares of Stride by 8.2% in the 4th quarter. Congress Asset Management Co. now owns 578,540 shares of the company’s stock worth $60,128,000 after purchasing an additional 43,829 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Stride in the 4th quarter worth about $995,000. Truist Financial Corp bought a new position in Stride in the 4th quarter worth about $302,000. Finally, Allspring Global Investments Holdings LLC grew its position in Stride by 61.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company’s stock valued at $20,250,000 after purchasing an additional 72,518 shares during the last quarter. 98.24% of the stock is owned by institutional investors.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.