Alamar Capital Management LLC Takes Position in Stride, Inc. $LRN

Key Points

• Alamar Capital Management initiated a new position in Stride, Inc., buying 18,135 shares valued at about $1.6 million in the first quarter.
• Other institutional investors also increased their stakes, and 98.24% of Stride’s stock is owned by hedge funds and other institutions.
• Stride reported better-than-expected quarterly results, posting EPS of $2.30 versus estimates of $2.21, while revenue came in essentially in line at $629.87 million.

Alamar Capital Management LLC purchased a new position in Stride, Inc. (NYSE:LRN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,135 shares of the company's stock, valued at approximately $1,599,000.

Several other hedge funds have also recently made changes to their positions in the stock. Chase Investment Counsel Corp purchased a new stake in Stride in the first quarter worth approximately $1,763,000. PNC Financial Services Group Inc. raised its stake in Stride by 17.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,440 shares of the company's stock valued at $480,000 after buying an additional 824 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Stride by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company's stock valued at $154,339,000 after buying an additional 90,851 shares during the last quarter. KBC Group NV lifted its holdings in shares of Stride by 265.9% during the 1st quarter. KBC Group NV now owns 4,252 shares of the company's stock valued at $375,000 after buying an additional 3,090 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Stride by 0.8% during the 1st quarter. Swiss National Bank now owns 86,800 shares of the company's stock valued at $7,653,000 after buying an additional 700 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Price Performance

NYSE LRN opened at $84.20 on Thursday. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.47 and a beta of 0.10. The company's 50 day moving average is $89.84 and its two-hundred day moving average is $86.59.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.09. The business had revenue of $629.87 million during the quarter, compared to analyst estimates of $629.69 million. Stride had a net margin of 12.15% and a return on equity of 25.20%. The company's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.02 earnings per share. As a group, research analysts anticipate that Stride, Inc. will post 8.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LRN has been the topic of several research reports. BMO Capital Markets reissued a "market perform" rating on shares of Stride in a research report on Monday, June 15th. William Blair reiterated an "outperform" rating on shares of Stride in a research note on Monday, June 15th. Barrington Research reiterated an "outperform" rating and issued a $125.00 price objective on shares of Stride in a research note on Thursday, April 16th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Stride in a report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $109.75.

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.

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