Stride, Inc. (NYSE:LRN) Shares Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. raised its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,400 shares of the company's stock after acquiring an additional 10,200 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.37% of Stride worth $16,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LRN. Ritholtz Wealth Management lifted its stake in shares of Stride by 52.9% during the 4th quarter. Ritholtz Wealth Management now owns 10,047 shares of the company's stock worth $1,044,000 after purchasing an additional 3,474 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Stride by 4.4% during the fourth quarter. Nordea Investment Management AB now owns 115,774 shares of the company's stock valued at $12,177,000 after buying an additional 4,828 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Stride by 26.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,723 shares of the company's stock valued at $283,000 after buying an additional 570 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Stride by 19.7% in the 4th quarter. GAMMA Investing LLC now owns 2,468 shares of the company's stock valued at $256,000 after buying an additional 407 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Stride in the 3rd quarter worth approximately $430,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Barrington Research raised their price objective on Stride from $100.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday. Morgan Stanley boosted their target price on Stride from $94.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. Canaccord Genuity Group increased their price target on Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets boosted their price target on Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Stride has a consensus rating of "Moderate Buy" and an average target price of $102.50.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm'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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Stride Stock Performance

Shares of LRN stock traded up $0.95 during mid-day trading on Friday, reaching $113.90. The stock had a trading volume of 866,405 shares, compared to its average volume of 529,827. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $115.42. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.84 and a beta of 0.32. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The business's fifty day moving average is $106.47 and its 200-day moving average is $88.66.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share 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 company had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the prior year, the company earned $0.11 EPS. Stride's quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts forecast that Stride, Inc. will post 6.64 earnings per share for the current year.

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.