Stride (NYSE:LRN) Shares Down 4.8% – Here’s Why

Stride, Inc. (NYSE:LRN) shares were down 4.8% on Monday . The stock traded as low as $83.49 and last traded at $83.61. Approximately 313,420 shares traded hands during trading, a decline of 81% from the average daily volume of 1,634,329 shares. The stock had previously closed at $87.83.

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Zacks Research lowered Stride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of Stride in a research note on Wednesday, January 28th. Morgan Stanley decreased their target price on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Finally, Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $109.75.

Stride Stock Down 0.3%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.19 and a current ratio of 7.27. The business’s 50 day moving average is $69.67 and its 200-day moving average is $107.99. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.53 and a beta of 0.10.

Institutional Investors Weigh In On Stride

Several institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in Stride in the 2nd quarter valued at about $25,000. Financial Management Professionals Inc. acquired a new position in Stride in the third quarter valued at approximately $26,000. Penserra Capital Management LLC acquired a new position in Stride in the second quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. grew its position in Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after acquiring an additional 85 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Stride during the second quarter worth $30,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Company Profile

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.