2,764 Shares in Stride, Inc. $LRN Acquired by Ascent Group LLC

Key Points

• Ascent Group LLC has acquired a new position in Stride, Inc. ($LRN), purchasing 2,764 shares worth approximately $350,000 during the 1st quarter.
• Stride reported a quarterly EPS of $2.29, exceeding analysts' estimates by $0.46, with revenue increasing by 22.4% from the previous year.
• Institutional investors hold 98.24% of Stride's shares, indicating significant confidence and investment in the company.

Ascent Group LLC 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 Securities and Exchange Commission. The institutional investor bought 2,764 shares of the company's stock, valued at approximately $350,000.

Other hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC acquired a new position in Stride in the 1st quarter valued at $461,000. Canandaigua National Bank & Trust Co. bought a new position in shares of Stride during the 1st quarter worth about $273,000. FORA Capital LLC bought a new position in shares of Stride during the 1st quarter worth about $572,000. GAMMA Investing LLC lifted 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. Finally, CW Advisors LLC lifted its holdings in Stride by 89.5% during the 1st quarter. CW Advisors LLC now owns 161,458 shares of the company's stock valued at $20,424,000 after purchasing an additional 76,260 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LRN shares. Morgan Stanley lifted their price target on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen cut shares of Stride from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Barrington Research boosted their price objective on shares of Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $146.40.

Stride Stock Performance

NYSE LRN traded down $18.42 on Monday, hitting $139.94. 3,153,035 shares of the stock were exchanged, compared to its average volume of 773,222. The company has a market capitalization of $6.11 billion, a PE ratio of 23.25, a P/E/G ratio of 0.92 and a beta of 0.22. The business's fifty day moving average is $148.06 and its 200 day moving average is $142.64. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $171.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

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

Insider Transactions at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the sale, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is owned by insiders.

Stride 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.