Baader Bank Aktiengesellschaft Purchases Shares of 1,907 Stride, Inc. $LRN

Key Points

• Baader Bank Aktiengesellschaft has made a new investment in Stride, Inc., acquiring 1,907 shares valued at approximately $271,000 during the 2nd quarter.
• Stride's earnings for the last quarter exceeded expectations, reporting $2.29 earnings per share (EPS) against an estimated $1.83, with revenues of $653.65 million, surpassing forecasted revenue of $626.23 million.
• Analysts have a consensus rating of "Moderate Buy" for Stride, with recent price targets ranging from $148.00 to $185.00 as several firms have upgraded their outlook on the stock.

Baader Bank Aktiengesellschaft purchased a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,907 shares of the company's stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC raised its stake in Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after buying an additional 160 shares during the period. First Horizon Advisors Inc. grew its position in shares of Stride by 140.5% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Stride by 374.6% in the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after purchasing an additional 266 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Stride during the first quarter worth approximately $43,000. Finally, Geneos Wealth Management Inc. grew its position in Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after buying an additional 131 shares in the last quarter. Institutional investors own 98.24% of the company's stock.

Stride Stock Up 1.8%

LRN traded up $2.49 during trading on Monday, hitting $144.20. 353,750 shares of the company's stock traded hands, compared to its average volume of 778,185. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $171.17. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 0.83 and a beta of 0.22. The company's 50 day simple moving average is $148.46 and its two-hundred day simple moving average is $142.71.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping 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 business had revenue of $653.65 million for the quarter, compared to analysts' expectations of $626.23 million. During the same quarter last year, the company posted $1.42 EPS. The company's revenue was up 22.4% compared to the same quarter last year. Analysts predict that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on LRN. Morgan Stanley raised their target price on 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 upgraded Stride from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Barrington Research lifted their target price on shares of Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $146.40.

Insider Buying and Selling at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value 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. The trade was a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.

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.