Chase Investment Counsel Corp Makes New Investment in Stride, Inc. $LRN

Key Points

• Chase Investment Counsel initiated a position in Stride by purchasing 20,000 shares valued at approximately $1.724 million during the second quarter. Institutional investors collectively own 98.24% of the company.
• Analyst sentiment remains cautious: two analysts rate Stride a Buy and five rate it a Hold, resulting in a consensus rating of “Hold” and an average price target of $109.75.
• Stride shares opened at $83.18, with a market capitalization of $3.46 billion and a price-to-earnings ratio of 11.55. The stock’s 12-month range is $60.61 to $171.17.

Chase Investment Counsel Corp bought a new position in Stride, Inc. (NYSE:LRN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 20,000 shares of the company's stock, valued at approximately $1,724,000.

Other large investors have also recently modified their holdings of the company. State of Wyoming bought a new position in Stride in the second quarter worth about $193,000. Farther Finance Advisors LLC grew its holdings in shares of Stride by 37.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,212 shares of the company's stock worth $191,000 after acquiring an additional 606 shares during the period. BDFS Capital LLC raised its position in shares of Stride by 1.4% in the 2nd quarter. BDFS Capital LLC now owns 12,436 shares of the company's stock worth $1,072,000 after acquiring an additional 176 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Stride by 2.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,947 shares of the company's stock valued at $1,462,000 after purchasing an additional 456 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Stride by 5.5% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,479 shares of the company's stock valued at $559,000 after purchasing an additional 338 shares in the last quarter. Institutional investors own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LRN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Stride in a report on Wednesday, July 8th. William Blair lowered shares of Stride from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Stride in a research report on Monday, June 15th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $109.75.

Stride Stock Down 0.2%

Shares of NYSE:LRN opened at $83.18 on Monday. The company has a current ratio of 5.94, a quick ratio of 5.81 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $87.01 and a two-hundred day simple moving average of $88.32. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.48 and a beta of 0.11.

Stride Company Profile

Stride, Inc NYSE: LRN is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company's blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.

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