Stride (NYSE:LRN) Reaches New 12-Month High – Here’s Why

Shares of Stride, Inc. (NYSE:LRN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $104.14 and last traded at $103.89, with a volume of 21551 shares traded. The stock had previously closed at $102.80.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price target on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target for the company. Barrington Research lifted their price target on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.17.

Stride Trading Up 1.3 %

The business’s 50 day simple moving average is $85.87 and its two-hundred day simple moving average is $77.59. The stock has a market cap of $4.54 billion, a P/E ratio of 18.69, a PEG ratio of 0.76 and a beta of 0.27. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. Stride’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. As a group, analysts expect that Stride, Inc. will post 6.66 EPS for the current year.

Insider Activity

In other news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the sale, the director now directly owns 85,058 shares of the company’s stock, valued at $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Stride

Several hedge funds and other institutional investors have recently made changes to their positions in the business. William Blair Investment Management LLC grew its position in Stride by 20.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after purchasing an additional 355,614 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Stride by 1.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after acquiring an additional 13,050 shares during the period. Geode Capital Management LLC grew its position in shares of Stride by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock valued at $82,315,000 after acquiring an additional 35,349 shares during the period. Swedbank AB purchased a new stake in shares of Stride during the 1st quarter valued at approximately $60,385,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Stride by 51.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock valued at $79,326,000 after buying an additional 314,435 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

About Stride

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.