Several other brokerages also recently commented on LRN. Morgan Stanley raised their price objective on shares of Stride from $60.00 to $65.00 and gave the stock an equal weight rating in a research report on Wednesday, January 24th. Wedbush restated an outperform rating on shares of Stride in a report on Wednesday, January 24th. StockNews.com upgraded Stride from a hold rating to a buy rating in a report on Wednesday, January 24th. BMO Capital Markets upped their price target on Stride from $71.00 to $72.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Finally, Barrington Research upped their price target on Stride from $70.00 to $75.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $71.75.
Stride Price Performance
Stride (NYSE:LRN – Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.23. The company had revenue of $504.87 million for the quarter, compared to analyst estimates of $498.05 million. Stride had a return on equity of 17.77% and a net margin of 8.80%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 earnings per share. As a group, research analysts expect that Stride will post 4.32 EPS for the current year.
In other news, insider Les Ottolenghi sold 6,150 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $56.42, for a total transaction of $346,983.00. Following the transaction, the insider now owns 60,757 shares of the company’s stock, valued at approximately $3,427,909.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Les Ottolenghi sold 6,150 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $56.42, for a total transaction of $346,983.00. Following the sale, the insider now owns 60,757 shares of the company’s stock, valued at approximately $3,427,909.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Cohen sold 4,362 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $60.56, for a total value of $264,162.72. Following the sale, the director now directly owns 9,495 shares in the company, valued at approximately $575,017.20. The disclosure for this sale can be found here. Insiders have sold 22,489 shares of company stock valued at $1,302,219 in the last 90 days. Insiders own 2.76% of the company’s stock.
Hedge Funds Weigh In On Stride
A number of institutional investors have recently added to or reduced their stakes in LRN. Vanguard Group Inc. increased its position in shares of Stride by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,000,230 shares of the company’s stock valued at $210,160,000 after purchasing an additional 506,211 shares during the last quarter. SG Capital Management LLC lifted its stake in shares of Stride by 348.7% in the 3rd quarter. SG Capital Management LLC now owns 563,218 shares of the company’s stock valued at $25,362,000 after purchasing an additional 437,685 shares during the period. Norges Bank bought a new stake in Stride in the fourth quarter worth $13,432,000. Polar Asset Management Partners Inc. purchased a new position in shares of Stride in the second quarter worth $12,722,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of Stride in the first quarter worth $10,819,000. 98.24% of the stock is currently owned by institutional investors.
Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.
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