Stride (NYSE:LRN) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Stride (NYSE:LRN) has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen.
• The company recently reported a 22.4% increase in quarterly revenue year-over-year, achieving an EPS of $2.29, surpassing analyst expectations.
• Insider trading activity saw CEO James Jeaho Rhyu sell 13,961 shares, reducing their ownership stake by 1.94%.

Stride (NYSE:LRN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.

Several other research firms have also recently issued reports on LRN. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. William Blair reiterated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Canaccord Genuity Group increased their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Morgan Stanley increased their target price on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Barrington Research restated an "outperform" rating and set a $170.00 price objective on shares of Stride in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Stride currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

Stride Trading Down 1.4%

NYSE:LRN opened at $165.3750 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 0.98 and a beta of 0.10. Stride has a 52 week low of $63.25 and a 52 week high of $169.87. The firm has a 50-day moving average price of $141.91 and a two-hundred day moving average price of $140.01.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $1.83 by $0.46. The firm had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. On average, equities analysts expect that Stride will post 6.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the sale, the chief executive officer owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company's stock.

Institutional Trading of Stride

Institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC increased its holdings in shares of Stride by 37.5% in the 2nd quarter. Golden State Wealth Management LLC now owns 275 shares of the company's stock valued at $40,000 after acquiring an additional 75 shares during the last quarter. Rezny Wealth Management Inc. boosted its stake in Stride by 0.6% during the second quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company's stock valued at $2,055,000 after buying an additional 83 shares in the last quarter. Vident Advisory LLC boosted its stake in Stride by 2.9% during the first quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock valued at $372,000 after buying an additional 84 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position 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 purchasing an additional 85 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in shares of Stride by 3.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,173 shares of the company's stock valued at $461,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.