Stride (NYSE:LRN) Trading Down 5.6% – Here’s Why

Stride, Inc. (NYSE:LRN)’s share price was down 5.6% on Monday . The company traded as low as $91.41 and last traded at $92.2530. Approximately 561,592 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 964,024 shares. The stock had previously closed at $97.71.

Analyst Ratings Changes

LRN has been the subject of several research analyst reports. William Blair reiterated an “outperform” rating on shares of Stride in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a report on Monday. Finally, Barrington Research reissued an “outperform” rating and set a $125.00 price objective on shares of Stride in a report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $109.75.

Stride Price Performance

The company has a market cap of $3.58 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.51 and a beta of 0.10. The company has a fifty day simple moving average of $93.23 and a two-hundred day simple moving average of $82.42. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.09. Stride had a return on equity of 25.20% and a net margin of 12.15%.The business had revenue of $629.87 million during the quarter, compared to the consensus estimate of $629.69 million. During the same quarter in the previous year, the company posted $2.02 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Stride, Inc. will post 8.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stride

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Stride by 67.3% during the first quarter. AQR Capital Management LLC now owns 28,547 shares of the company’s stock valued at $3,611,000 after acquiring an additional 11,481 shares during the last quarter. NewEdge Advisors LLC raised its stake in Stride by 80.9% in the 1st quarter. NewEdge Advisors LLC now owns 5,124 shares of the company’s stock valued at $648,000 after purchasing an additional 2,291 shares during the last quarter. Empowered Funds LLC lifted its holdings in Stride by 12.4% in the 1st quarter. Empowered Funds LLC now owns 18,202 shares of the company’s stock valued at $2,303,000 after purchasing an additional 2,008 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Stride by 31.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company’s stock valued at $17,009,000 after purchasing an additional 32,470 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake 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. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Company Profile

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.