IHT Wealth Management LLC Purchases New Stake in Stride, Inc. (NYSE:LRN)

IHT Wealth Management LLC purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,646 shares of the company's stock, valued at approximately $823,000.

Several other hedge funds have also made changes to their positions in LRN. Crossmark Global Holdings Inc. grew its position in Stride by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company's stock worth $274,000 after purchasing an additional 121 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in Stride by 1.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company's stock worth $1,442,000 after buying an additional 217 shares in the last quarter. Arizona State Retirement System increased its position in Stride by 1.9% in the 2nd 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 during the period. Isthmus Partners LLC raised its stake in Stride by 4.8% during the 2nd 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. Finally, Amalgamated Bank boosted its position in Stride by 1.9% during the 3rd quarter. Amalgamated Bank now owns 12,528 shares of the company's stock worth $1,069,000 after acquiring an additional 235 shares during the period. Institutional investors own 98.24% of the company's stock.

Insider Transactions at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were 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 $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by insiders.

Stride Price Performance

Shares of LRN traded down $0.10 during mid-day trading on Friday, hitting $110.44. The company's stock had a trading volume of 510,290 shares, compared to its average volume of 629,922. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The firm has a 50-day moving average price of $91.66 and a 200 day moving average price of $80.58. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $112.80. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 0.83 and a beta of 0.30.

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, topping the consensus estimate of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The firm had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts predict that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on LRN. Citigroup raised their price target on Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. 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, October 23rd. BMO Capital Markets upped their price target on shares of Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. StockNews.com cut shares of Stride from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Finally, Barrington Research boosted their target price on Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.17.

Stride 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.