Fiera Capital Corp Invests $29.53 Million in Stride, Inc. (NYSE:LRN)

Key Points

• Fiera Capital Corp has acquired a stake in Stride, Inc., purchasing 233,408 shares valued at approximately $29.5 million, representing about 0.54% of the company.
• Stride's recent quarterly earnings showed a net margin of 13.1% with revenue increasing by 17.8% year-over-year, although its EPS of $2.02 missed analysts' expectations of $2.09.
• The stock has received upgrades from multiple analysts, with Barrington Research setting a price target of $170.00, reflecting positive sentiment towards its future performance.

Fiera Capital Corp acquired a new stake in Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 233,408 shares of the company's stock, valued at approximately $29,526,000. Fiera Capital Corp owned 0.54% of Stride at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its position in shares of Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after buying an additional 160 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares during the period. Fifth Third Bancorp increased its holdings in Stride by 158.8% in the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after acquiring an additional 235 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after buying an additional 178 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Stride during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

LRN has been the subject of several recent analyst reports. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Canaccord Genuity Group boosted their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, April 28th. William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Finally, Barrington Research restated an "outperform" rating and set a $170.00 target price on shares of Stride in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Stride has an average rating of "Moderate Buy" and an average target price of $126.83.

Stride Stock Performance

Shares of Stride stock traded up $1.12 during trading on Friday, hitting $129.35. 518,124 shares of the company's stock traded hands, compared to its average volume of 768,706. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The stock has a market capitalization of $5.63 billion, a P/E ratio of 20.18, a PEG ratio of 0.83 and a beta of 0.32. The business has a 50-day simple moving average of $140.27 and a 200-day simple moving average of $136.62.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a return on equity of 23.36% and a net margin of 13.10%. The firm had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. During the same period in the previous year, the business posted $1.60 earnings per share. The company's revenue for the quarter was up 17.8% on a year-over-year basis. As a group, analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Stride Company 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.