Stride (NYSE:LRN) Director Buys $2,723,502.87 in Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart acquired 36,357 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was purchased at an average cost of $74.91 per share, with a total value of $2,723,502.87. Following the acquisition, the director directly owned 2,127,760 shares of the company’s stock, valued at $159,390,501.60. This represents a 1.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Stride Price Performance

Shares of Stride stock traded down $0.54 during trading hours on Tuesday, reaching $75.17. The stock had a trading volume of 1,307,764 shares, compared to its average volume of 943,955. The stock’s 50 day moving average is $81.08 and its 200 day moving average is $85.81. The firm has a market capitalization of $3.16 billion, a PE ratio of 10.37, a PEG ratio of 0.42 and a beta of 0.16. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $103.67. The company has a current ratio of 2.56, a quick ratio of 2.53 and a debt-to-equity ratio of 0.06.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $612.25 million. During the same period in the prior year, the company posted $1.40 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts expect that Stride, Inc. will post 9.04 earnings per share for the current fiscal year.

Institutional Trading of Stride

Several institutional investors have recently modified their holdings of the stock. Ethic Inc. acquired a new position in shares of Stride during the 3rd quarter worth about $237,000. Alps Advisors Inc. lifted its stake in Stride by 17.9% in the 3rd quarter. Alps Advisors Inc. now owns 7,020 shares of the company’s stock valued at $547,000 after buying an additional 1,068 shares in the last quarter. CenterBook Partners LP lifted its stake in Stride by 339.6% in the 3rd quarter. CenterBook Partners LP now owns 77,618 shares of the company’s stock valued at $6,053,000 after buying an additional 59,960 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Stride by 26.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,147 shares of the company’s stock valued at $947,000 after buying an additional 2,519 shares in the last quarter. Finally, MGO One Seven LLC acquired a new stake in Stride in the 3rd quarter worth about $225,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LRN. William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Weiss Ratings raised Stride from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Barrington Research cut their price objective on Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 23rd. Zacks Research raised Stride from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Finally, BMO Capital Markets reduced their target price on Stride from $93.00 to $90.00 and set a “market perform” rating for the company in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” 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.