Stride, Inc. (NYSE:LRN) Sees Significant Growth in Short Interest

Stride, Inc. (NYSE:LRN - Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 7,290,000 shares, an increase of 25.3% from the September 30th total of 5,820,000 shares. Currently, 17.9% of the company's stock are sold short. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is currently 6.6 days.

Stride Price Performance

NYSE:LRN traded down $0.24 during trading hours on Monday, hitting $91.01. 1,539,210 shares of the stock were exchanged, compared to its average volume of 838,934. Stride has a 52-week low of $54.12 and a 52-week high of $92.75. The firm's fifty day moving average price is $79.68 and its 200 day moving average price is $73.18. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.94 billion, a P/E ratio of 21.42, a P/E/G ratio of 0.64 and a beta of 0.26.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.76% and a net margin of 11.38%. The business's revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. As a group, equities research analysts anticipate that Stride will post 5.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LRN shares. Citigroup cut Stride from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $77.00 to $90.00 in a report on Tuesday, August 20th. Canaccord Genuity Group upped their price target on Stride from $94.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Barrington Research upped their price target on Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. StockNews.com cut Stride from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They issued a "buy" rating and a $94.00 price target for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.50.

Insider Buying and Selling at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.76% of the company's stock.

Institutional Investors Weigh In On Stride

Large investors have recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in shares of Stride by 48.9% in the first quarter. Nordea Investment Management AB now owns 105,630 shares of the company's stock valued at $6,698,000 after purchasing an additional 34,682 shares in the last quarter. UniSuper Management Pty Ltd purchased a new position in Stride in the first quarter worth approximately $555,000. Blue Trust Inc. grew its position in Stride by 795.5% in the second quarter. Blue Trust Inc. now owns 11,543 shares of the company's stock worth $814,000 after acquiring an additional 10,254 shares during the period. Sanctuary Advisors LLC purchased a new position in Stride in the second quarter worth approximately $534,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Stride by 24.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company's stock worth $3,071,000 after purchasing an additional 7,100 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

About Stride

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.

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