Entropy Technologies LP Purchases 13,574 Shares of Stride, Inc. (NYSE:LRN)

Key Points

• Entropy Technologies LP increased its holdings in Stride, Inc. by 178.1%, bringing its total investment to approximately $2.68 million as of the latest SEC filing.
• Stride recently reported earnings per share (EPS) of $2.29, surpassing analysts' expectations of $1.83, and its quarterly revenue rose by 22.4% year-over-year.
• Analysts have provided a positive outlook for Stride, with several firms issuing "buy" ratings and increasing their price targets, indicating growing confidence in the stock's potential.

Entropy Technologies LP increased its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 178.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,197 shares of the company's stock after purchasing an additional 13,574 shares during the period. Entropy Technologies LP's holdings in Stride were worth $2,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LRN. Congress Asset Management Co. lifted its position in shares of Stride by 102.2% during the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after buying an additional 591,208 shares during the last quarter. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 367,545 shares during the last quarter. Cat Rock Capital Management LP acquired a new position in Stride in the 4th quarter worth approximately $36,694,000. Wellington Management Group LLP increased its holdings in Stride by 120.6% in the 4th quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock worth $63,146,000 after buying an additional 332,098 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Stride by 27.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock worth $155,251,000 after buying an additional 323,275 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

Stride stock traded up $1.03 during trading hours on Wednesday, hitting $158.41. The stock had a trading volume of 998,672 shares, compared to its average volume of 744,381. The company has a 50-day moving average of $139.06 and a two-hundred day moving average of $138.42. 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 company has a market cap of $6.91 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.92 and a beta of 0.10. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $162.30.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%. The company's revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. On average, equities research analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LRN. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Canaccord Genuity Group lifted their price target on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Barrington Research reiterated an "outperform" rating and set a $170.00 target price on shares of Stride in a research report on Thursday, July 24th. Finally, William Blair restated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Stride currently has an average rating of "Moderate Buy" and a consensus target price of $143.40.

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.