Alliance Wealth Advisors LLC UT Takes Position in Stride, Inc. $LRN

Key Points

• Alliance Wealth Advisors LLC UT purchased 2,165 shares of Stride, Inc. (NYSE: LRN) valued at approximately $274,000 during the first quarter.
• Three hedge funds significantly increased their stakes in Stride, with one lifting its stake by 374.6%, indicating growing institutional interest in the company.
• Stride reported $2.29 earnings per share, surpassing analyst expectations of $1.83, and its quarterly revenue rose 22.4% year-over-year to $653.65 million.

Alliance Wealth Advisors LLC UT bought a new position in Stride, Inc. (NYSE:LRN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 2,165 shares of the company's stock, valued at approximately $274,000.

Several other large investors have also recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after buying an additional 160 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after acquiring an additional 156 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Stride in the 4th quarter worth about $41,000. Harbour Investments Inc. boosted its stake in shares of Stride by 374.6% during the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after purchasing an additional 266 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Stride by 158.8% during the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock valued at $48,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 98.24% of the company's stock.

Analysts Set New Price Targets

LRN has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. BMO Capital Markets reiterated 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 report on Wednesday, April 30th. Canaccord Genuity Group upped their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Stride has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

Stride Stock Up 0.4%

Shares of LRN traded up $0.6510 during mid-day trading on Tuesday, hitting $163.2810. The company's stock had a trading volume of 493,024 shares, compared to its average volume of 752,447. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The company's 50-day moving average is $140.52 and its 200-day moving average is $139.44. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $164.41. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 0.95 and a beta of 0.10.

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

Stride Company Profile

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.