Neo Ivy Capital Management purchased a new stake in Stride, Inc. (NYSE:LRN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,944 shares of the company's stock, valued at approximately $1,190,000.
Several other hedge funds also recently made changes to their positions in the stock. Crossmark Global Holdings Inc. grew its position in shares of Stride by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company's stock valued at $274,000 after purchasing an additional 121 shares in the last quarter. SummerHaven Investment Management LLC grew its position 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 buying an additional 217 shares in the last quarter. Arizona State Retirement System grew its position 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 buying an additional 220 shares in the last quarter. Isthmus Partners LLC grew its position in 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 buying an additional 222 shares in the last quarter. Finally, Amalgamated Bank grew its position in Stride by 1.9% during the third quarter. Amalgamated Bank now owns 12,528 shares of the company's stock worth $1,069,000 after buying an additional 235 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.
Stride Stock Up 1.1 %
LRN traded up $1.12 during trading on Wednesday, hitting $107.35. 175,301 shares of the company's stock traded hands, compared to its average volume of 827,706. The company's 50 day simple moving average is $92.56 and its two-hundred day simple moving average is $81.23. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.83 and a beta of 0.30. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $112.80.
Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million for the quarter, compared to analysts' expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. Stride's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. Analysts predict that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.
Insider Activity
In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.00% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on LRN. Canaccord Genuity Group upped their price objective on Stride from $94.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Barrington Research increased their target price on Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. StockNews.com lowered Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Citigroup increased their target price on Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Finally, BMO Capital Markets upped 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 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.17.
Read Our Latest Stock Report on Stride
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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