Stride (NYSE:LRN) Director Purchases 54,200 Shares of Company Stock

Key Points

• Director Dylan Haggart bought 54,200 Stride shares at an average $78.34 each, spending about $4.25 million and increasing his direct stake by 2.85% to nearly 1.95 million shares.
• Stride beat quarterly expectations, reporting EPS of $1.37 versus $1.07 forecast and revenue of $639.38 million versus $612.25 million estimated; revenue rose 3% year over year.
• Shares recently traded down 0.7% to $75.17. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $106.25.

Stride, Inc. (NYSE:LRN - Get Free Report) Director Dylan Haggart bought 54,200 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was acquired at an average price of $78.34 per share, for a total transaction of $4,246,028.00. Following the acquisition, the director directly owned 1,953,903 shares in the company, valued at $153,068,761.02. The trade was a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Stride Stock Down 0.7%

NYSE LRN traded down $0.54 during trading hours on Tuesday, hitting $75.17. The company's stock had a trading volume of 1,307,764 shares, compared to its average volume of 943,955. The company has a market capitalization of $3.16 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 0.42 and a beta of 0.16. The company has a current ratio of 2.56, a quick ratio of 2.53 and a debt-to-equity ratio of 0.06. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $103.67. The company's 50-day simple moving average is $81.08 and its two-hundred day simple moving average is $85.81.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.30. The firm had revenue of $639.38 million during the quarter, compared to analyst estimates of $612.25 million. Stride had a return on equity of 22.06% and a net margin of 13.18%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 EPS. Research analysts anticipate that Stride, Inc. will post 9.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Stride

Several institutional investors have recently modified their holdings of LRN. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Stride during the second quarter worth $2,485,000. Janus Henderson Group PLC grew its stake in Stride by 61.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company's stock valued at $200,799,000 after purchasing an additional 862,849 shares during the period. JB Capital Partners LP bought a new position in Stride in the 2nd quarter valued at $3,018,400. Kendall Capital Management bought a new position in Stride in the 2nd quarter valued at $2,294,000. Finally, Bank of America Corp DE purchased a new stake in shares of Stride during the 2nd quarter valued at $49,350,000. 98.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LRN has been the subject of several recent research reports. Weiss Ratings raised Stride from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Zacks Research upgraded Stride from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 28th. Barrington Research cut their price objective 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. BMO Capital Markets reduced their target price on shares of Stride from $93.00 to $90.00 and set a "market perform" rating for the company in a research note on Monday, October 5th. Finally, William Blair downgraded shares of Stride from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average 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.

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