Intech Investment Management LLC purchased a new position in Stride, Inc. (NYSE:LRN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 12,506 shares of the company's stock, valued at approximately $1,067,000.
Several other institutional investors have also modified their holdings of the business. William Blair Investment Management LLC lifted its stake in shares of Stride by 20.1% in the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company's stock worth $149,608,000 after acquiring an additional 355,614 shares in the last quarter. Swedbank AB acquired a new position in shares of Stride in the first quarter worth about $60,385,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Stride by 51.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company's stock worth $79,326,000 after acquiring an additional 314,435 shares in the last quarter. Victory Capital Management Inc. raised its stake in Stride by 72.4% during the third quarter. Victory Capital Management Inc. now owns 827,505 shares of the company's stock valued at $70,594,000 after buying an additional 347,564 shares in the last quarter. Finally, Congress Asset Management Co. acquired a new stake in Stride during the third quarter valued at approximately $45,616,000. Institutional investors and hedge funds own 98.24% of the company's stock.
Stride Stock Performance
Shares of Stride stock traded down $1.41 on Thursday, reaching $107.04. 526,885 shares of the company were exchanged, compared to its average volume of 832,959. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The company's 50-day moving average is $88.24 and its two-hundred day moving average is $78.78. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 0.80 and a beta of 0.27. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $108.48.
Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The business had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. During the same period in the prior year, the company posted $0.11 EPS. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts expect that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
LRN has been the topic of several research reports. BMO Capital Markets upped their price objective on Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Canaccord Genuity Group initiated coverage on Stride in a research note on Thursday, August 8th. They set a "buy" rating and a $94.00 price objective on the stock. Canaccord Genuity Group upped their price objective on Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Citigroup upped their price objective on Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Finally, Barrington Research upped their price objective on Stride from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Three equities research 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 an average price target of $90.17.
Read Our Latest Report on LRN
Insider Buying and Selling
In related news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the transaction, the director now directly owns 85,058 shares of the company's stock, valued at $7,786,209.32. This represents a 8.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.00% of the company's stock.
About Stride
(
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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