Bayforest Capital Ltd Invests $644,000 in Stride, Inc. $LRN

Key Points

• Bayforest Capital Ltd acquired a new stake in Stride, Inc. worth approximately $644,000 during the first quarter, purchasing 5,087 shares of the company's stock.
• Analyst ratings on Stride include a boost in target prices from Barrington Research to $185.00 and Morgan Stanley to $159.00, while Wall Street Zen reduced their rating from "buy" to "hold."
• Stride, Inc. reported a 22.4% increase in quarterly revenue year-over-year, totaling $653.65 million, while achieving an EPS of $2.29, surpassing analyst estimates.

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

A number of other institutional investors have also recently bought and sold shares of the stock. Vident Advisory LLC grew its stake in Stride by 2.9% during the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock valued at $372,000 after acquiring an additional 84 shares in the last quarter. Vestcor Inc grew its stake in Stride by 4.6% during the 1st quarter. Vestcor Inc now owns 2,328 shares of the company's stock valued at $294,000 after acquiring an additional 102 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after acquiring an additional 156 shares in the last quarter. Larson Financial Group LLC grew its stake in Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after acquiring an additional 160 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Stride by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,111 shares of the company's stock valued at $900,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Wall Street Analyst Weigh In

LRN has been the subject of several recent research reports. Morgan Stanley boosted their price target on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Barrington Research boosted their price target on Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Finally, Wall Street Zen cut Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.40.

Stride Stock Performance

Shares of NYSE:LRN traded down $2.72 during trading on Friday, reaching $158.36. The stock had a trading volume of 414,467 shares, compared to its average volume of 759,546. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $171.17. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 0.92 and a beta of 0.22. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $147.64 and a two-hundred day simple moving average of $142.35.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $626.23 million. During the same period in the prior year, the firm earned $1.42 EPS. Stride's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Insider Transactions at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the firm's stock in a transaction dated 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 approximately $114,895,378.98. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by company 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.