Lisanti Capital Growth LLC Invests $5.21 Million in Stride, Inc. (NYSE:LRN)

Lisanti Capital Growth LLC purchased a new position in Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,155 shares of the company's stock, valued at approximately $5,206,000. Stride comprises about 1.5% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 18th largest position. Lisanti Capital Growth LLC owned approximately 0.09% of Stride at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Congress Asset Management Co. raised its holdings in shares of Stride by 102.2% during the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after acquiring an additional 591,208 shares in the last quarter. Norges Bank bought a new stake in shares of Stride during the 4th quarter valued at about $45,306,000. Arrowstreet Capital Limited Partnership raised its stake in Stride by 783.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company's stock worth $47,095,000 after buying an additional 401,838 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Stride by 18.0% in the fourth quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock worth $256,397,000 after buying an additional 375,686 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Stride by 14,892.4% during the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after acquiring an additional 367,545 shares during the period. 98.24% of the stock is owned by institutional investors.

Stride Stock Performance

Shares of NYSE:LRN traded down $0.58 during trading on Monday, hitting $145.04. The company's stock had a trading volume of 467,801 shares, compared to its average volume of 854,628. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.03 and a beta of 0.35. The company has a 50-day moving average of $148.13 and a 200-day moving average of $132.45. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30.

Stride (NYSE:LRN - Get Free Report) last released 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 13.10% and a return on equity of 23.36%. Stride's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 earnings per share. On average, sell-side analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on LRN. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Barrington Research raised their price objective on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research report 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, William Blair reaffirmed an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.