Bayforest Capital Ltd Lowers Position in Stride, Inc. $LRN

Bayforest Capital Ltd lessened its stake in Stride, Inc. (NYSE:LRN - Free Report) by 71.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,433 shares of the company's stock after selling 3,654 shares during the period. Bayforest Capital Ltd's holdings in Stride were worth $208,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Inspire Investing LLC purchased a new position in Stride in the first quarter valued at $792,000. DAVENPORT & Co LLC acquired a new stake in shares of Stride during the 1st quarter valued at about $461,000. Swedbank AB increased its stake in shares of Stride by 5.4% in the 1st quarter. Swedbank AB now owns 1,009,726 shares of the company's stock valued at $127,730,000 after purchasing an additional 52,000 shares in the last quarter. United Services Automobile Association acquired a new position in Stride in the 1st quarter worth about $326,000. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Stride in the 1st quarter worth about $273,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Stock Performance

Shares of NYSE:LRN opened at $140.82 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The business's 50 day moving average price is $153.20 and its 200-day moving average price is $145.30. The firm has a market capitalization of $6.14 billion, a PE ratio of 23.39, a P/E/G ratio of 0.83 and a beta of 0.07. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $171.17.

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

Analysts Set New Price Targets

A number of research firms have recently commented on LRN. Barrington Research restated an "outperform" rating and issued a $185.00 price objective on shares of Stride in a research report on Tuesday, September 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Stride in a research report on Wednesday, October 8th. Morgan Stanley increased their target price on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $146.40.

Insider Activity

In other news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 of the company's stock, valued at $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is owned by corporate insiders.

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.

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