Cat Rock Capital Management LP Invests $36.69 Million in Stride, Inc. (NYSE:LRN)

Cat Rock Capital Management LP acquired a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 353,066 shares of the company's stock, valued at approximately $36,694,000. Stride comprises 4.8% of Cat Rock Capital Management LP's portfolio, making the stock its 10th biggest holding. Cat Rock Capital Management LP owned 0.81% of Stride at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. bought a new stake in Stride during the 4th quarter worth approximately $5,696,000. Congress Asset Management Co. grew its position in shares of Stride by 8.2% during the fourth quarter. Congress Asset Management Co. now owns 578,540 shares of the company's stock worth $60,128,000 after purchasing an additional 43,829 shares in the last quarter. Aigen Investment Management LP bought a new stake in Stride during the 4th quarter valued at approximately $995,000. Truist Financial Corp bought a new stake in Stride during the 4th quarter valued at approximately $302,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Stride by 61.5% in 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 in the last quarter. Institutional investors own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LRN shares. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Canaccord Genuity Group lifted their target price on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. William Blair reissued an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Finally, Barrington Research upped their price objective on Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Stride presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.83.

Stride Trading Up 0.3 %

LRN traded up $0.52 during trading hours on Wednesday, reaching $158.69. 487,182 shares of the company's stock traded hands, compared to its average volume of 834,255. The firm has a market capitalization of $6.91 billion, a PE ratio of 26.49, a PEG ratio of 1.04 and a beta of 0.36. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $162.30. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $133.15 and a 200 day moving average price of $119.47.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a return on equity of 22.42% and a net margin of 12.30%. The business had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. During the same period in the previous year, the company posted $1.60 EPS. Stride's revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Stride 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.