Renaissance Group LLC Acquires 5,614 Shares of Stride, Inc. (NYSE:LRN)

Renaissance Group LLC boosted its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,328 shares of the company's stock after purchasing an additional 5,614 shares during the quarter. Renaissance Group LLC owned about 0.13% of Stride worth $5,958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRN. Asset Management One Co. Ltd. bought a new stake in shares of Stride in the fourth quarter valued at approximately $5,696,000. Congress Asset Management Co. raised its stake in Stride by 8.2% during the 4th quarter. Congress Asset Management Co. now owns 578,540 shares of the company's stock valued at $60,128,000 after purchasing an additional 43,829 shares during the last quarter. Aigen Investment Management LP bought a new stake in Stride in the 4th quarter valued at $995,000. Truist Financial Corp acquired a new stake in Stride in the 4th quarter worth $302,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Stride by 61.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company's stock worth $20,250,000 after purchasing an additional 72,518 shares during the period. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LRN. Canaccord Genuity Group increased their target price on shares of Stride from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. BMO Capital Markets raised their price objective on Stride from $134.00 to $139.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Finally, Barrington Research restated an "outperform" rating and set a $140.00 price objective on shares of Stride in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.17.

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Stride Price Performance

Shares of LRN stock traded up $0.82 during trading hours on Friday, hitting $134.56. The company had a trading volume of 811,811 shares, compared to its average volume of 839,119. Stride, Inc. has a 12 month low of $56.17 and a 12 month high of $145.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. The firm's fifty day moving average is $131.26 and its 200 day moving average is $111.52. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.04 and a beta of 0.47.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. On average, sell-side analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

About Stride

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.