CX Institutional Purchases 60,173 Shares of Stride, Inc. $LRN

Key Points

• CX Institutional acquired 60,173 Stride shares worth approximately $4.69 million during the third quarter, giving it a 0.14% stake. Institutional investors collectively own 98.24% of the company.
• Analyst sentiment remains mixed, with three Buy ratings and four Holds; Stride has a consensus rating of Hold and an average price target of $95.75.
• Stride’s latest quarterly results exceeded expectations, reporting $2.12 in EPS versus a $1.64 estimate and $636.06 million in revenue, although revenue declined 2.7% year over year.

CX Institutional acquired a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 60,173 shares of the company's stock, valued at approximately $4,692,000. CX Institutional owned approximately 0.14% of Stride as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in Stride by 16.3% in the 2nd quarter. IFP Advisors Inc now owns 2,485 shares of the company's stock worth $214,000 after buying an additional 349 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Stride by 14.3% during the second quarter. Squarepoint Ops LLC now owns 19,950 shares of the company's stock valued at $1,720,000 after buying an additional 2,496 shares during the last quarter. Nykredit A S bought a new stake in shares of Stride during the second quarter valued at approximately $293,000. Corient Private Wealth LP purchased a new position in shares of Stride in the second quarter worth $241,000. Finally, Amundi lifted its holdings in shares of Stride by 122.2% in the second quarter. Amundi now owns 13,554 shares of the company's stock worth $1,169,000 after buying an additional 7,454 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Stride in a report on Wednesday, July 8th. BMO Capital Markets reissued an "outperform" rating and set a $38.00 price objective on shares of Stride in a report on Wednesday, September 9th. Finally, William Blair lowered Stride from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $95.75.

Stride Stock Up 1.6%

Shares of NYSE:LRN opened at $78.76 on Friday. The business's 50 day moving average is $82.73 and its 200 day moving average is $87.69. The stock has a market cap of $3.27 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 0.45 and a beta of 0.14. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $155.06. The company has a quick ratio of 5.81, a current ratio of 5.94 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.48. The business had revenue of $636.06 million for the quarter, compared to the consensus estimate of $626.52 million. Stride had a return on equity of 23.49% and a net margin of 13.43%.The business's revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 EPS. Sell-side analysts predict that Stride, Inc. will post 8.62 EPS for the current year.

Stride Profile

Stride, Inc is an education technology company that provides online and blended learning programs for students in kindergarten through 12th grade. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instruction, student support and administrative services.

Stride's offerings include full-time online public and private school programs, supplemental courses, tutoring and career-focused learning. Its career learning programs are designed to help middle- and high-school students develop practical skills and explore fields such as information technology, health sciences and business.

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