Crestline Management LP Invests $307,000 in Stride, Inc. (NYSE:LRN)

Crestline Management LP bought a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,955 shares of the company's stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LRN. R Squared Ltd purchased a new stake in Stride in the fourth quarter worth $37,000. CIBC Private Wealth Group LLC grew its stake in Stride by 85.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after purchasing an additional 178 shares during the period. Covestor Ltd grew its stake in Stride by 51.6% in the fourth quarter. Covestor Ltd now owns 632 shares of the company's stock worth $66,000 after purchasing an additional 215 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in Stride in the fourth quarter worth $77,000. Finally, Smartleaf Asset Management LLC grew its stake in Stride by 372.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 751 shares of the company's stock worth $79,000 after purchasing an additional 592 shares during the period. Institutional investors own 98.24% of the company's stock.

Stride Stock Performance

Shares of Stride stock traded up $0.61 during trading on Friday, hitting $154.39. 248,816 shares of the company's stock traded hands, compared to its average volume of 837,146. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The stock has a market capitalization of $6.72 billion, a P/E ratio of 25.78, a PEG ratio of 1.04 and a beta of 0.36. The business has a 50-day simple moving average of $135.66 and a 200-day simple moving average of $122.44.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The firm had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The company's revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Analysts Set New Price Targets

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

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.