Stride Target of Unusually Large Options Trading (NYSE:LRN)

Stride, Inc. (NYSE:LRN) saw unusually large options trading activity on Wednesday. Traders bought 3,618 call options on the stock. This is an increase of approximately 170% compared to the average volume of 1,340 call options.

Stride Stock Up 30.7 %

Shares of NYSE LRN traded up $19.83 during mid-day trading on Wednesday, reaching $84.32. 2,479,312 shares of the company were exchanged, compared to its average volume of 791,943. The firm has a 50-day moving average of $79.16 and a 200 day moving average of $72.54. Stride has a 1 year low of $43.90 and a 1 year high of $88.02. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 0.74 and a beta of 0.26.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. Stride had a net margin of 10.01% and a return on equity of 19.12%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, research analysts expect that Stride will post 5.05 earnings per share for the current year.

Analysts Set New Price Targets

LRN has been the topic of a number of research analyst reports. Canaccord Genuity Group assumed coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. Barrington Research restated an “outperform” rating and set a $90.00 price objective on shares of Stride in a report on Friday, October 11th. Canaccord Genuity Group upped their target price on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup lowered Stride from a “buy” rating to a “neutral” rating and raised their price target for the company from $77.00 to $90.00 in a research note on Tuesday, August 20th. Finally, BMO Capital Markets upped their price objective on shares of Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Stride has an average rating of “Moderate Buy” and an average price target of $86.83.

Hedge Funds Weigh In On Stride

A number of large investors have recently made changes to their positions in LRN. Allspring Global Investments Holdings LLC increased its position in Stride by 4.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 29,018 shares of the company’s stock valued at $1,830,000 after buying an additional 1,287 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Stride by 5.2% during the first quarter. Principal Financial Group Inc. now owns 231,274 shares of the company’s stock valued at $14,582,000 after acquiring an additional 11,495 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Stride by 17.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,262 shares of the company’s stock valued at $1,971,000 after purchasing an additional 4,546 shares during the last quarter. Nordea Investment Management AB boosted its stake in Stride by 48.9% in the 1st quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock worth $6,698,000 after purchasing an additional 34,682 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its position in Stride by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 34,831 shares of the company’s stock worth $2,196,000 after purchasing an additional 496 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

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.