Stride (NYSE:LRN) Stock Price Down 5% – Here’s What Happened

Stride, Inc. (NYSE:LRN) shares fell 5% on Tuesday . The company traded as low as $90.09 and last traded at $87.4270. Approximately 28,576 shares were traded during trading, a decline of 97% from the average daily volume of 957,341 shares. The stock had previously closed at $92.02.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LRN. Weiss Ratings restated a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. Barrington Research reissued an “outperform” rating and issued a $125.00 target price on shares of Stride in a research report on Thursday, April 16th. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research note on Monday, June 15th. Finally, William Blair restated an “outperform” rating on shares of Stride in a research report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stride currently has a consensus rating of “Hold” and a consensus target price of $109.75.

Stride Stock Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. The stock has a market capitalization of $3.56 billion, a PE ratio of 12.93, a P/E/G ratio of 0.49 and a beta of 0.10. The firm’s 50 day moving average is $90.08 and its two-hundred day moving average is $85.87.

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

Institutional Investors Weigh In On Stride

Hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new position in shares of Stride during the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after acquiring an additional 85 shares in the last quarter. Leonteq Securities AG purchased a new position in Stride in the fourth quarter worth approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 225 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Stride by 482.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares in the last quarter. 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.