Stride (NYSE:LRN) Cut to Market Perform at William Blair

William Blair downgraded shares of Stride (NYSE:LRN) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, MarketBeat reports.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research report on Monday, June 15th. Barrington Research reaffirmed an “outperform” rating and set a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $109.75.

Stride Stock Performance

NYSE LRN opened at $80.42 on Thursday. The company has a market cap of $3.42 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.45 and a beta of 0.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14. The stock has a 50-day moving average of $89.79 and a two-hundred day moving average of $87.47. Stride has a 1-year low of $60.61 and a 1-year high of $171.17.

Institutional Trading of Stride

Several hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in Stride during the 2nd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after purchasing an additional 85 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after purchasing an additional 131 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Stride by 108.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock worth $38,000 after purchasing an additional 225 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Stride during the third quarter worth $78,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.