Stride (NYSE:LRN) Stock: Insider Dylan Haggart Buys 792 Shares

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 792 shares of the stock in a transaction dated Tuesday, October 27th. The shares were purchased at an average cost of $78.52 per share, for a total transaction of $62,187.84. Following the transaction, the director owned 1,899,703 shares in the company, valued at approximately $149,164,679.56. The trade was a 0.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Stride Stock Down 2.7%

Shares of NYSE LRN opened at $78.49 on Friday. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $103.67. The company has a market capitalization of $3.30 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.45 and a beta of 0.14. The company has a 50 day simple moving average of $81.44 and a 200-day simple moving average of $85.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.56 and a quick ratio of 2.53.

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. The company had revenue of $639.38 million during the quarter, compared to analysts’ expectations of $612.25 million. Stride had a return on equity of 22.06% and a net margin of 13.18%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share. On average, equities research analysts predict that Stride, Inc. will post 9.04 earnings per share for the current year.

Institutional Trading of Stride

A number of large investors have recently made changes to their positions in LRN. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Stride during the 2nd quarter worth $2,485,000. Janus Henderson Group PLC lifted its position 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 acquiring an additional 862,849 shares during the period. JB Capital Partners LP purchased a new position in shares of Stride in the 2nd quarter valued at approximately $3,018,400. Kendall Capital Management acquired a new position in shares of Stride in the second quarter valued at approximately $2,294,000. Finally, Bank of America Corp DE acquired a new position in Stride in the 2nd quarter valued at $49,350,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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