Legacy Wealth Asset Management LLC Takes Position in Stride, Inc. (NYSE:LRN)

Legacy Wealth Asset Management LLC acquired a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,382 shares of the company's stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LRN. R Squared Ltd bought a new position in shares of Stride during the 4th quarter valued at $37,000. CIBC Private Wealth Group LLC increased its position in Stride by 85.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after acquiring an additional 178 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Stride in the fourth quarter valued at about $41,000. Covestor Ltd grew its stake in shares of Stride by 51.6% during the 4th quarter. Covestor Ltd now owns 632 shares of the company's stock valued at $66,000 after purchasing an additional 215 shares during the period. Finally, Gen Wealth Partners Inc bought a new stake in shares of Stride during the 4th quarter valued at about $75,000. 98.24% of the stock is owned by institutional investors.

Stride Price Performance

LRN stock traded up $1.29 during midday trading on Wednesday, hitting $143.84. The company's stock had a trading volume of 682,840 shares, compared to its average volume of 854,493. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30. The company has a 50 day moving average of $143.61 and a two-hundred day moving average of $127.64. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.04 and a beta of 0.36.

Stride (NYSE:LRN - Get Free Report) last posted its 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). The company had revenue of $613.38 million for the quarter, compared to analysts' expectations of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. The business's revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. On average, analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on LRN. Barrington Research upped their target price on shares of Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Canaccord Genuity Group raised 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. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a report on Thursday, May 1st. William Blair restated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Finally, Wall Street Zen cut Stride from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.