Alamar Capital Management LLC Purchases 7,970 Shares of Stride, Inc. $LRN

Key Points

• Alamar Capital Management LLC increased its stake in Stride, Inc. by 65.2% during the first quarter, now holding a total of 20,195 shares valued at approximately $2.55 million.
• Stride, Inc. reported earnings of $2.29 per share for the last quarter, exceeding analysts' expectations of $1.83, with a revenue increase of 22.4% from the previous year.
• The company's stock has been subject to various analyst ratings, with Barrington Research raising its price target from $170 to $185 and four analysts issuing a Buy rating.

Alamar Capital Management LLC boosted its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 65.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,195 shares of the company's stock after acquiring an additional 7,970 shares during the period. Stride accounts for about 1.5% of Alamar Capital Management LLC's portfolio, making the stock its 27th biggest position. Alamar Capital Management LLC's holdings in Stride were worth $2,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC bought a new position in Stride during the 1st quarter worth $461,000. Canandaigua National Bank & Trust Co. bought a new position in Stride during the 1st quarter worth $273,000. FORA Capital LLC bought a new position in Stride during the 1st quarter worth $572,000. GAMMA Investing LLC increased its stake in 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. Finally, CW Advisors LLC increased its stake in Stride by 89.5% during the 1st quarter. CW Advisors LLC now owns 161,458 shares of the company's stock worth $20,424,000 after acquiring an additional 76,260 shares during the period. Institutional investors own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LRN. Barrington Research raised their price objective on Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Morgan Stanley lifted their price target on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.40.

Insiders Place Their Bets

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the sale, the chief executive officer owned 706,353 shares in the company, valued at $114,895,378.98. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.

Stride Price Performance

Shares of LRN traded down $1.48 during midday trading on Friday, hitting $160.76. The company's stock had a trading volume of 547,346 shares, compared to its average volume of 614,523. Stride, Inc. has a one year low of $63.25 and a one year high of $171.17. The company's fifty day simple moving average is $145.88 and its two-hundred day simple moving average is $141.66. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 0.95 and a beta of 0.22.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 EPS. As a group, equities analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.