Picton Mahoney Asset Management Cuts Stake in Stride, Inc. (NYSE:LRN)

Picton Mahoney Asset Management trimmed its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 72.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,227 shares of the company's stock after selling 54,310 shares during the quarter. Picton Mahoney Asset Management's holdings in Stride were worth $2,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in Stride by 9.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,842 shares of the company's stock worth $503,000 after acquiring an additional 417 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Stride during the 4th quarter worth $831,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in Stride by 14.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,544 shares of the company's stock worth $163,000 after acquiring an additional 199 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in Stride by 12.3% during the 4th quarter. Erste Asset Management GmbH now owns 84,749 shares of the company's stock worth $8,918,000 after acquiring an additional 9,263 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Stride by 0.7% during the 4th quarter. Swiss National Bank now owns 80,800 shares of the company's stock worth $8,398,000 after acquiring an additional 600 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley lifted 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. Barrington Research reiterated an "outperform" rating and set a $140.00 target price on shares of Stride in a research note on Friday, March 14th. BMO Capital Markets lifted their target price on Stride from $122.00 to $134.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group lifted their target price on Stride from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $119.33.

Stride Price Performance

Shares of NYSE LRN traded up $1.58 during midday trading on Thursday, hitting $122.95. 802,274 shares of the company's stock were exchanged, compared to its average volume of 798,560. Stride, Inc. has a 12-month low of $56.17 and a 12-month high of $145.00. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.04 and a beta of 0.46. The business's fifty day moving average price is $128.12 and its two-hundred day moving average price is $105.40.

Stride (NYSE:LRN - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. As a group, research analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Stride Company 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.