Loomis Sayles & Co. L P purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 246,677 shares of the company's stock, valued at approximately $21,044,000. Loomis Sayles & Co. L P owned 0.57% of Stride at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LRN. Crossmark Global Holdings Inc. raised its holdings in shares of Stride by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company's stock valued at $274,000 after buying an additional 121 shares during the period. SummerHaven Investment Management LLC increased its stake in Stride by 1.1% during the second quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company's stock worth $1,442,000 after purchasing an additional 217 shares during the period. Arizona State Retirement System increased its stake in Stride by 1.9% during the second quarter. Arizona State Retirement System now owns 11,536 shares of the company's stock worth $813,000 after purchasing an additional 220 shares during the period. Isthmus Partners LLC lifted its position in shares of Stride by 4.8% during the second quarter. Isthmus Partners LLC now owns 4,814 shares of the company's stock worth $339,000 after purchasing an additional 222 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Stride by 1.9% in the third quarter. Amalgamated Bank now owns 12,528 shares of the company's stock valued at $1,069,000 after purchasing an additional 235 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.
Stride Stock Down 1.3 %
NYSE:LRN traded down $1.41 during trading hours on Wednesday, hitting $107.04. The company's stock had a trading volume of 526,885 shares, compared to its average volume of 832,959. The stock has a market capitalization of $4.67 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. 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 stock has a fifty day moving average of $87.74 and a 200-day moving average of $78.58. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $108.48.
Stride (NYSE:LRN - Get Free Report) last issued its 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. The business had revenue of $551.08 million for 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 business's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. On average, equities analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current year.
Analyst Ratings Changes
LRN has been the topic of a number of research reports. Canaccord Genuity Group started coverage on shares of Stride in a report on Thursday, August 8th. They set a "buy" rating and a $94.00 target price on the stock. Citigroup increased 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. BMO Capital Markets lifted their target price on Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. 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. Finally, StockNews.com lowered Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.17.
Check Out Our Latest Analysis on Stride
Insider Buying and Selling at Stride
In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction on Friday, October 25th. The shares were sold at an average price of $91.54, for a total value 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. The trade was a 8.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by insiders.
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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