Stride (NYSE:LRN) Shares Gap Down to $43.12

Stride, Inc. (NYSE:LRN – Get Rating)’s share price gapped down prior to trading on Friday . The stock had previously closed at $43.12, but opened at $41.64. Stride shares last traded at $40.83, with a volume of 50,632 shares changing hands.

Wall Street Analysts Forecast Growth

LRN has been the subject of a number of research reports. Barrington Research reiterated an “outperform” rating and issued a $50.00 price target on shares of Stride in a research note on Wednesday, January 25th. BMO Capital Markets boosted their price target on Stride from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Morgan Stanley downgraded shares of Stride from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a report on Friday.

Stride Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.63 and a current ratio of 3.73. The company’s 50 day moving average price is $39.10 and its 200-day moving average price is $38.05. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.86 and a beta of 0.35.

Stride (NYSE:LRN – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. The firm had revenue of $458.44 million for the quarter, compared to the consensus estimate of $443.23 million. Stride had a return on equity of 12.30% and a net margin of 5.63%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. On average, equities research analysts forecast that Stride, Inc. will post 2.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stride news, CEO James Jeaho Rhyu sold 35,531 shares of the firm’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $40.49, for a total value of $1,438,650.19. Following the sale, the chief executive officer now directly owns 515,920 shares in the company, valued at approximately $20,889,600.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Vincent Mathis sold 8,160 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $40.65, for a total value of $331,704.00. Following the completion of the transaction, the executive vice president now owns 44,806 shares in the company, valued at approximately $1,821,363.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Jeaho Rhyu sold 35,531 shares of the company’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $40.49, for a total transaction of $1,438,650.19. Following the completion of the sale, the chief executive officer now directly owns 515,920 shares in the company, valued at approximately $20,889,600.80. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Institutional Trading of Stride

Several hedge funds have recently modified their holdings of LRN. State of Alaska Department of Revenue lifted its holdings in Stride by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 28,448 shares of the company’s stock worth $889,000 after acquiring an additional 317 shares in the last quarter. FMR LLC grew its holdings in shares of Stride by 0.4% during the second quarter. FMR LLC now owns 84,342 shares of the company’s stock worth $3,441,000 after buying an additional 346 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Stride by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,065 shares of the company’s stock valued at $1,034,000 after purchasing an additional 393 shares in the last quarter. Lapides Asset Management LLC boosted its stake in shares of Stride by 0.3% during the 4th quarter. Lapides Asset Management LLC now owns 152,556 shares of the company’s stock worth $4,772,000 after buying an additional 400 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Stride by 3.9% in the 4th quarter. Arizona State Retirement System now owns 11,465 shares of the company’s stock valued at $359,000 after acquiring an additional 428 shares in the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

Stride Company Profile

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Stride, Inc is a technology-based educational company, which engages in the provision of proprietary and third-party curriculum, software systems and educational services. It also offers online curriculum and career services to middle and high school students, under the Destinations Career Academy brand name.