Stride (NYSE:LRN) Announces Earnings Results

Stride (NYSE:LRN) announced its earnings results on Tuesday. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.17, Zacks reports. Stride had a net margin of 12.76% and a return on equity of 26.29%.

Stride Stock Up 1.2%

NYSE:LRN traded up $0.85 during mid-day trading on Tuesday, reaching $72.45. The company’s stock had a trading volume of 1,806,479 shares, compared to its average volume of 1,198,636. The company has a quick ratio of 6.69, a current ratio of 6.78 and a debt-to-equity ratio of 0.32. Stride has a 1 year low of $60.61 and a 1 year high of $171.17. The stock has a fifty day moving average of $66.12 and a 200-day moving average of $111.08. The firm has a market capitalization of $3.18 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 0.44 and a beta of 0.06.

Hedge Funds Weigh In On Stride

Hedge funds and other institutional investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. bought a new position in Stride in the second quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after acquiring an additional 85 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after acquiring an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Stride by 481.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 512 shares of the company’s stock worth $74,000 after purchasing an additional 424 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Stride during the third quarter valued at about $78,000. 98.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LRN. Canaccord Genuity Group upped their price target on shares of Stride from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Barrington Research reissued an “outperform” rating and set a $125.00 price target on shares of Stride in a research note on Wednesday, January 21st. Zacks Research downgraded Stride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, BMO Capital Markets set a $108.00 target price on Stride and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $125.75.

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.