Caxton Associates LLP Invests $1.77 Million in Stride, Inc. $LRN

Key Points

• Caxton Associates LLP has invested approximately $1.77 million in Stride, Inc. by acquiring 13,955 shares.
• Other institutional investors have also significantly increased their stakes in Stride, with Congress Asset Management growing its position by 102.2% during the first quarter.
• Stride reported strong earnings results, with an EPS of $2.29, surpassing consensus estimates by $0.46, and revenue of $653.65 million, reflecting a year-over-year growth of 22.4%.

Caxton Associates LLP acquired a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,955 shares of the company's stock, valued at approximately $1,765,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRN. Congress Asset Management Co. grew its stake in Stride by 102.2% in the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after acquiring an additional 591,208 shares during the period. GAMMA Investing LLC grew its stake in Stride by 14,892.4% in the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after acquiring an additional 367,545 shares during the period. Wellington Management Group LLP grew its stake in Stride by 120.6% in the 4th quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after acquiring an additional 332,098 shares during the period. Janus Henderson Group PLC grew its stake in Stride by 27.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock valued at $155,251,000 after acquiring an additional 323,275 shares during the period. Finally, Nuveen LLC acquired a new stake in Stride in the 1st quarter valued at $38,835,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Insider Transactions at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction on 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 owned 706,353 shares of the company's stock, valued at $114,895,378.98. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Stride Trading Up 2.2%

Shares of LRN opened at $164.23 on Tuesday. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $171.17. 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 firm's fifty day moving average is $146.27 and its two-hundred day moving average is $141.89. The stock has a market cap of $7.17 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results 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 company had revenue of $653.65 million for the quarter, compared to analysts' expectations of $626.23 million. During the same quarter in the previous year, the company posted $1.42 EPS. The firm's quarterly revenue was up 22.4% on a year-over-year basis. Research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LRN. 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 research note on Wednesday, August 6th. Barrington Research lifted their price target on shares of 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 shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $146.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.