Stride (NYSE:LRN) Stock Price Down 5% – Should You Sell?

Stride, Inc. (NYSE:LRN)’s share price was down 5% on Tuesday . The stock traded as low as $90.09 and last traded at $87.4270. Approximately 28,576 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 957,341 shares. The stock had previously closed at $92.02.

Analyst Upgrades and Downgrades

LRN has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. William Blair reiterated an “outperform” rating on shares of Stride in a report on Monday, June 15th. Barrington Research reissued an “outperform” rating and set a $125.00 price target on shares of Stride in a research report on Thursday, April 16th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research report on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Stride currently has a consensus rating of “Hold” and an average target price of $109.75.

Stride Trading Down 4.1%

The firm has a market cap of $3.75 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.51 and a beta of 0.10. The business’s 50-day moving average is $90.41 and its two-hundred day moving average is $85.60. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. The company had revenue of $629.87 million during the quarter, compared to the consensus estimate of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.Stride’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.02 earnings per share. As a group, analysts expect that Stride, Inc. will post 8.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stride

A number of hedge funds have recently added to or reduced their stakes in the stock. Divisadero Street Capital Management LP acquired a new position in Stride during the 3rd quarter valued at about $55,852,000. Vanguard Group Inc. increased its stake in shares of Stride by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock valued at $317,090,000 after purchasing an additional 340,838 shares during the period. Merit Financial Group LLC raised its holdings in shares of Stride by 35.3% during the fourth quarter. Merit Financial Group LLC now owns 40,383 shares of the company’s stock valued at $2,622,000 after buying an additional 10,541 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Stride by 59.3% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 369,928 shares of the company’s stock worth $24,019,000 after buying an additional 137,775 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of Stride during the fourth quarter worth approximately $988,000. 98.24% of the stock is currently owned by institutional investors.

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.