B. Riley Wealth Advisors Inc. acquired a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,098 shares of the company's stock, valued at approximately $430,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Louisiana State Employees Retirement System raised its stake in Stride by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the company's stock worth $1,417,000 after buying an additional 400 shares in the last quarter. Burney Co. boosted its position in Stride by 9.7% during the second quarter. Burney Co. now owns 35,765 shares of the company's stock valued at $2,521,000 after purchasing an additional 3,173 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in Stride in the second quarter valued at about $13,127,000. Picton Mahoney Asset Management raised its holdings in Stride by 19.4% in the second quarter. Picton Mahoney Asset Management now owns 74,356 shares of the company's stock worth $5,242,000 after purchasing an additional 12,083 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Stride during the second quarter valued at about $78,000. Hedge funds and other institutional investors own 98.24% of the company's stock.
Insider Transactions at Stride
In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction 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 transaction, the director now directly owns 85,058 shares of the company's stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on LRN. BMO Capital Markets lifted their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Morgan Stanley upped their price target on Stride from $94.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. StockNews.com cut Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group upped their target price on Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Barrington Research raised 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.50.
Get Our Latest Stock Report on LRN
Stride Stock Performance
Shares of Stride stock traded down $0.87 during trading on Friday, hitting $105.21. 691,293 shares of the company's stock were exchanged, compared to its average volume of 826,059. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 0.80 and a beta of 0.30. The business has a 50-day simple moving average of $96.52 and a 200-day simple moving average of $82.88. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $112.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60.
Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share 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 21.23% and a net margin of 11.38%. The company's revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. On average, research analysts forecast that Stride, Inc. will post 6.66 EPS for the current year.
Stride Profile
(
Free Report)
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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