Stride, Inc. $LRN Shares Purchased by Cim LLC

Key Points

• Cim LLC significantly increased its ownership in Stride, Inc. by 173.0%, owning 18,536 shares valued at approximately $2.35 million as of its latest SEC filing.
• Stride reported a strong earnings performance with $2.29 EPS, surpassing analysts' expectations, and a revenue increase of 22.4% year-over-year.
• Research analysts have adjusted their price targets for Stride; Morgan Stanley raised its target to $159, while Barrington Research set a new target of $185.

Cim LLC lifted its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 173.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,536 shares of the company's stock after buying an additional 11,747 shares during the period. Cim LLC's holdings in Stride were worth $2,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LRN. Vident Advisory LLC increased its holdings in Stride by 2.9% in the first quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock valued at $372,000 after buying an additional 84 shares in the last quarter. Vestcor Inc increased its stake in shares of Stride by 4.6% during the first quarter. Vestcor Inc now owns 2,328 shares of the company's stock worth $294,000 after purchasing an additional 102 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after purchasing an additional 131 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Stride by 140.5% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after purchasing an additional 160 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Trading Down 11.6%

NYSE:LRN traded down $18.42 on Monday, reaching $139.94. The company's stock had a trading volume of 3,153,035 shares, compared to its average volume of 773,222. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $171.17. The stock has a 50 day moving average price of $148.06 and a 200 day moving average price of $142.64. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth 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.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data 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. Stride had a return on equity of 25.51% and a net margin of 11.97%.The firm had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. During the same period last year, the company earned $1.42 EPS. The company's quarterly revenue was up 22.4% on a year-over-year basis. On average, equities analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Stride 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.