Stride (NYSE:LRN) Trading Down 5.6% – Should You Sell?

Stride, Inc. (NYSE:LRN) dropped 5.6% during trading on Monday . The stock traded as low as $91.41 and last traded at $92.2530. Approximately 561,592 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 964,024 shares. The stock had previously closed at $97.71.

Analyst Ratings Changes

A number of analysts have recently issued reports on LRN shares. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Barrington Research reissued an “outperform” rating and issued a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Stride currently has a consensus rating of “Hold” and an average price target of $109.75.

Stride Stock Down 15.8%

The firm has a fifty day simple moving average of $93.47 and a 200-day simple moving average of $82.14. The company has a market capitalization of $3.50 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.60 and a beta of 0.10. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. The business had revenue of $629.87 million for the quarter, compared to analyst estimates of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.Stride’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.02 EPS. On average, equities research analysts expect that Stride, Inc. will post 8.21 EPS for the current fiscal year.

Institutional Trading of Stride

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Stride by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock worth $317,090,000 after purchasing an additional 340,838 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Stride by 61.0% during the 1st 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 last quarter. Invesco Ltd. lifted its holdings in Stride by 1.3% during the 3rd quarter. Invesco Ltd. now owns 1,805,508 shares of the company’s stock worth $268,912,000 after purchasing an additional 23,488 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Stride by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company’s stock worth $154,339,000 after purchasing an additional 90,851 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Stride by 98.1% during the 4th quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock worth $105,938,000 after purchasing an additional 808,141 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.