20,000 Shares in Stride, Inc. $LRN Acquired by ABS Investment Management LLC

ABS Investment Management LLC bought a new position in Stride, Inc. (NYSE:LRN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 20,000 shares of the company's stock, valued at approximately $1,724,800. Stride makes up about 0.0% of ABS Investment Management LLC's investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRN. Norges Bank bought a new stake in shares of Stride in the 4th quarter worth approximately $72,871,000. Janus Henderson Group PLC raised its holdings in shares of Stride by 61.0% during the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company's stock valued at $200,799,000 after acquiring an additional 862,849 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Stride during the second quarter valued at approximately $71,036,000. Morgan Stanley raised its holdings in shares of Stride by 98.1% during the fourth quarter. Morgan Stanley now owns 1,631,570 shares of the company's stock valued at $105,938,000 after acquiring an additional 808,141 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of Stride during the second quarter valued at approximately $63,624,000. 98.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of recent analyst reports. BMO Capital Markets restated a "market perform" rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings restated a "hold (c)" rating on shares of Stride in a report on Wednesday, July 8th. Finally, William Blair lowered shares of Stride from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $109.75.

Stride Stock Up 1.6%

LRN stock opened at $86.65 on Friday. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $166.93. The company's 50 day simple moving average is $85.79 and its 200-day simple moving average is $88.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.94 and a quick ratio of 5.81. The firm has a market capitalization of $3.60 billion, a P/E ratio of 12.03, a P/E/G ratio of 0.49 and a beta of 0.11.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.48. Stride had a net margin of 13.43% and a return on equity of 23.49%. The firm had revenue of $636.06 million for the quarter, compared to the consensus estimate of $626.52 million. During the same period in the previous year, the firm posted $2.29 earnings per share. The firm's revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Stride, Inc. will post 8.62 EPS for the current year.

Stride Profile

Stride, Inc NYSE: LRN is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company's blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.