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

Stride, Inc. (NYSE:LRN) was down 5.6% on Monday . The stock traded as low as $91.41 and last traded at $92.2530. Approximately 561,592 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LRN shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a report on Tuesday, March 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Stride in a report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.75.

Stride Price Performance

The firm has a market cap of $3.50 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.60 and a beta of 0.10. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $93.47 and a two-hundred day moving average of $82.14.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. Stride had a return on equity of 25.20% and a net margin of 12.15%.The business had revenue of $629.87 million for the quarter, compared to analyst estimates of $629.69 million. During the same quarter in the previous year, the company posted $2.02 EPS. Stride’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Stride, Inc. will post 8.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LRN. GW&K Investment Management LLC purchased a new stake in shares of Stride in the third quarter worth approximately $17,277,000. Divisadero Street Capital Management LP purchased a new stake in shares of Stride in the third quarter worth approximately $55,852,000. William Blair Investment Management LLC raised its stake in shares of Stride by 37.2% in the third quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock worth $225,060,000 after purchasing an additional 410,029 shares during the last quarter. Cat Rock Capital Management LP raised its stake in shares of Stride by 22.8% in the third quarter. Cat Rock Capital Management LP now owns 203,614 shares of the company’s stock worth $30,326,000 after purchasing an additional 37,761 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 acquiring an additional 340,838 shares in 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.