Stock Traders Buy Large Volume of Call Options on Stride (NYSE:LRN)

Stride, Inc. (NYSE:LRN) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 3,618 call options on the company. This is an increase of 170% compared to the average volume of 1,340 call options.

Stride Stock Up 2.9 %

Shares of Stride stock opened at $92.28 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10. Stride has a 52-week low of $50.28 and a 52-week high of $92.75. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 0.74 and a beta of 0.26. The company’s 50 day moving average price is $79.51 and its 200-day moving average price is $72.80.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.72. Stride had a net margin of 10.01% and a return on equity of 19.12%. The firm had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter last year, the business earned $0.11 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Equities research analysts forecast that Stride will post 5.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC boosted its holdings in Stride by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock valued at $1,442,000 after acquiring an additional 217 shares in the last quarter. Arizona State Retirement System boosted its holdings in Stride by 1.9% in the second quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock valued at $813,000 after acquiring an additional 220 shares in the last quarter. Isthmus Partners LLC boosted its holdings in Stride by 4.8% in the second quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock valued at $339,000 after acquiring an additional 222 shares in the last quarter. Sei Investments Co. boosted its holdings in Stride by 0.6% in the second quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock valued at $2,834,000 after acquiring an additional 242 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN lifted its position in Stride by 0.3% during the second quarter. Kirr Marbach & Co. LLC IN now owns 107,595 shares of the company’s stock valued at $7,585,000 after buying an additional 348 shares during the period. Institutional investors own 98.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. BMO Capital Markets raised their target price on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group raised their target price on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Citigroup downgraded shares of Stride from a “buy” rating to a “neutral” rating and raised their target price for the company from $77.00 to $90.00 in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.50.

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.