Bayforest Capital Ltd Makes New Investment in Stride, Inc. (NYSE:LRN)

Key Points

• Bayforest Capital Ltd invested $644,000 in Stride, Inc. (NYSE:LRN) by acquiring 5,087 shares during the first quarter.
• Institutional investors now own 98.24% of Stride's stock, with several firms significantly increasing their stakes, including Larson Financial Group LLC with a 333.3% increase.
• Stride's latest earnings report showed a year-over-year revenue increase of 17.8%, despite an EPS miss of $2.02 compared to expectations of $2.09.

Bayforest Capital Ltd purchased a new position in Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,087 shares of the company's stock, valued at approximately $644,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Larson Financial Group LLC raised its position in shares of Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after purchasing an additional 160 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Stride by 158.8% during the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after acquiring an additional 235 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after acquiring an additional 178 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Stride during the 4th quarter worth about $41,000. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Up 0.9%

Shares of NYSE:LRN traded up $1.12 during mid-day trading on Friday, hitting $129.35. 518,124 shares of the company traded hands, compared to its average volume of 768,706. The firm has a market cap of $5.63 billion, a P/E ratio of 20.18, a PEG ratio of 0.83 and a beta of 0.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.53 and a current ratio of 5.61. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $162.30. The firm's 50 day simple moving average is $140.27 and its 200 day simple moving average is $136.62.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a net margin of 13.10% and a return on equity of 23.36%. The business had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same quarter last year, the business earned $1.60 EPS. Stride's revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts anticipate that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LRN. William Blair reissued an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Barrington Research reaffirmed an "outperform" rating and issued a $170.00 target price on shares of Stride in a research report on Thursday, July 24th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Canaccord Genuity Group lifted their target price 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 raised Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Stride has a consensus rating of "Moderate Buy" and an average price target of $126.83.

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.