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

Stride, Inc. (NYSE:LRN) shares hit a new 52-week high on Thursday . The company traded as high as $115.42 and last traded at $114.82, with a volume of 218361 shares changing hands. The stock had previously closed at $111.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup increased their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Barrington Research lifted their price target on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.50.

Stride Stock Up 1.1 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The firm’s 50-day moving average is $105.95 and its 200 day moving average is $88.04. The firm has a market capitalization of $4.91 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 0.84 and a beta of 0.32.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating 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 business had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. During the same period in the prior year, the business earned $0.11 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, research analysts forecast that Stride, Inc. will post 6.64 earnings per share for the current fiscal year.

Insider Transactions at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm’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 sale, the director now directly owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.00% of the company’s stock.

Institutional Trading of Stride

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in Stride by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 149,068 shares of the company’s stock worth $10,509,000 after purchasing an additional 4,191 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Stride in the second quarter worth about $4,002,000. Kendall Capital Management grew its stake in shares of Stride by 89.8% in the second quarter. Kendall Capital Management now owns 14,820 shares of the company’s stock valued at $1,045,000 after buying an additional 7,010 shares in the last quarter. Sei Investments Co. grew its position in Stride by 0.6% in the second quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock valued at $2,834,000 after acquiring an additional 242 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new stake in Stride in the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.