Townsquare Capital LLC Acquires 24,033 Shares of Stride, Inc. (NYSE:LRN)

Townsquare Capital LLC increased its stake in Stride, Inc. (NYSE:LRN - Free Report) by 798.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,044 shares of the company's stock after acquiring an additional 24,033 shares during the period. Townsquare Capital LLC owned approximately 0.06% of Stride worth $2,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LRN. DekaBank Deutsche Girozentrale acquired a new position in Stride in the 1st quarter worth approximately $5,402,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Stride by 4.7% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 28,900 shares of the company's stock worth $2,037,000 after acquiring an additional 1,300 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Stride during the second quarter worth approximately $289,000. Blue Trust Inc. grew its stake in Stride by 795.5% in the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company's stock valued at $814,000 after buying an additional 10,254 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Stride in the second quarter worth about $43,387,000. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Performance

Shares of NYSE LRN traded down $0.17 during midday trading on Friday, hitting $106.87. 360,035 shares of the company's stock were exchanged, compared to its average volume of 699,277. The company's 50 day moving average price is $89.13 and its 200 day moving average price is $79.28. The firm has a market capitalization of $4.66 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. Stride, Inc. has a 12 month low of $54.81 and a 12 month high of $108.48. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.72. The business had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm's quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. As a group, analysts predict that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Insider Activity at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the company's stock in a transaction 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 sale, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LRN. BMO Capital Markets increased their price objective on Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Canaccord Genuity Group raised their price target on Stride from $94.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Canaccord Genuity Group began coverage on Stride in a report on Thursday, August 8th. They set a "buy" rating and a $94.00 target price on the stock. Citigroup lifted their target price on Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, StockNews.com lowered Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.17.

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.