Stride (NYSE:LRN) Reaches New 52-Week High – Here’s Why

Stride, Inc. (NYSE:LRN) reached a new 52-week high during trading on Wednesday . The company traded as high as $98.16 and last traded at $97.44, with a volume of 3483 shares trading hands. The stock had previously closed at $94.77.

Analyst Ratings Changes

LRN has been the subject of several recent research reports. Canaccord Genuity Group increased their target price on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barrington Research upped their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group initiated coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price target for the company. Finally, BMO Capital Markets increased their price target on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Stride Stock Performance

The stock has a 50 day moving average of $82.02 and a two-hundred day moving average of $75.24. The stock has a market capitalization of $4.44 billion, a PE ratio of 17.98, a P/E/G ratio of 0.70 and a beta of 0.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50.

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

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC lifted its stake 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 valued at $149,608,000 after buying an additional 355,614 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Stride by 2.7% in the first quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock valued at $72,821,000 after acquiring an additional 30,854 shares in the last quarter. Swedbank AB acquired a new stake in shares of Stride during the first quarter valued at $60,385,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Stride by 51.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock valued at $79,326,000 after acquiring an additional 314,435 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Stride by 72.4% during the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after purchasing an additional 347,564 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.