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

Stride, Inc. (NYSE:LRN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $117.64 and last traded at $116.68, with a volume of 892479 shares traded. The stock had previously closed at $114.16.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Barrington Research lifted their price target on Stride from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley upped their price objective on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Canaccord Genuity Group lifted their target price on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price target on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Stride has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Stride Price Performance

The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.86 and a beta of 0.32. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $106.98 and a two-hundred day moving average price of $89.46.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. As a group, research analysts forecast that Stride, Inc. will post 6.64 EPS for the current year.

Insider Buying and Selling at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stride

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its position in Stride by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 22,867 shares of the company’s stock worth $2,377,000 after acquiring an additional 947 shares during the period. SG Americas Securities LLC lifted its holdings in Stride by 213.3% in the fourth quarter. SG Americas Securities LLC now owns 7,868 shares of the company’s stock worth $818,000 after purchasing an additional 5,357 shares during the period. Dakota Wealth Management increased its stake in Stride by 4.1% during the 4th quarter. Dakota Wealth Management now owns 3,070 shares of the company’s stock valued at $319,000 after buying an additional 121 shares during the period. Sheets Smith Wealth Management bought a new stake in shares of Stride during the 4th quarter worth about $205,000. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Stride by 26.9% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 295,532 shares of the company’s stock worth $30,715,000 after buying an additional 62,590 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

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.