Stride (NYSE:LRN) Director Buys $62,187.84 in Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart bought 792 shares of the stock in a transaction on Tuesday, October 27th. The shares were bought at an average cost of $78.52 per share, for a total transaction of $62,187.84. Following the purchase, the director owned 1,899,703 shares in the company, valued at $149,164,679.56. This trade represents a 0.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Stride Price Performance

Shares of LRN stock traded up $0.43 during midday trading on Thursday, reaching $80.53. 793,264 shares of the company were exchanged, compared to its average volume of 912,466. The company’s 50 day moving average price is $81.55 and its two-hundred day moving average price is $85.70. The company has a market cap of $3.39 billion, a P/E ratio of 11.11, a PEG ratio of 0.44 and a beta of 0.14. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $103.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.53 and a current ratio of 2.56.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.30. Stride had a net margin of 13.18% and a return on equity of 22.06%. The business had revenue of $639.38 million during the quarter, compared to analysts’ expectations of $612.25 million. During the same period last year, the firm posted $1.40 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts expect that Stride, Inc. will post 9.04 earnings per share for the current year.

Hedge Funds Weigh In On Stride

Several large investors have recently made changes to their positions in LRN. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Stride in the 2nd quarter worth $2,485,000. Janus Henderson Group PLC raised its position in shares of Stride by 61.0% during the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after purchasing an additional 862,849 shares during the period. JB Capital Partners LP acquired a new stake in shares of Stride during the second quarter worth $3,018,400. Kendall Capital Management purchased a new stake in shares of Stride during the second quarter valued at $2,294,000. Finally, Bank of America Corp DE purchased a new stake in shares of Stride during the second quarter valued at $49,350,000. Institutional investors own 98.24% of the company’s stock.

Wall Street Analyst Weigh In

LRN has been the subject of a number of research reports. Barrington Research decreased their price target on Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Weiss Ratings raised Stride from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets cut their price objective on Stride from $93.00 to $90.00 and set a “market perform” rating for the company in a report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Stride currently has a consensus rating of “Hold” and a consensus target price of $106.25.

Stride Company Profile

Stride, Inc is an education technology company that provides online and blended learning programs for K-12 students. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instructional software, teaching support and student services. Its offerings are designed to support full-time virtual schools, supplemental courses and traditional schools incorporating online learning.

Stride also provides career-focused education through programs that combine academic instruction with career exploration, technical training and industry-aligned learning opportunities.