Weiss Asset Management LP Takes $13.47 Million Position in Stride, Inc. (NYSE:LRN)

Weiss Asset Management LP purchased a new position in Stride, Inc. (NYSE:LRN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 157,838 shares of the company's stock, valued at approximately $13,465,000. Weiss Asset Management LP owned 0.36% of Stride at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. William Blair Investment Management LLC increased its holdings in Stride by 20.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company's stock worth $149,608,000 after buying an additional 355,614 shares during the period. Janus Henderson Group PLC grew its stake in shares of Stride by 1.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company's stock worth $99,851,000 after purchasing an additional 13,050 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Stride by 51.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company's stock worth $79,326,000 after purchasing an additional 314,435 shares during the period. Victory Capital Management Inc. grew its stake in shares of Stride by 72.4% during the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company's stock worth $70,594,000 after purchasing an additional 347,564 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Stride by 0.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company's stock worth $64,286,000 after purchasing an additional 5,278 shares during the period. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Stock Performance

Stride stock remained flat at $110.54 during trading on Friday. 299,768 shares of the company were exchanged, compared to its average volume of 829,484. The company has a fifty day moving average of $91.13 and a 200-day moving average of $80.29. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $112.80. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 0.83 and a beta of 0.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50.

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

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of analyst reports. StockNews.com cut shares of Stride from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Barrington Research raised their price objective on shares of Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Canaccord Genuity Group initiated coverage on shares of Stride in a research note on Thursday, August 8th. They set a "buy" rating and a $94.00 price objective on the stock. Finally, Citigroup lifted their price target on shares of Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.17.

Insiders Place Their Bets

In other Stride 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 transaction of $734,883.12. Following the sale, the director now 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 document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

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.