FORA Capital LLC Invests $572,000 in Stride, Inc. $LRN

Key Points

• FORA Capital LLC acquired a new stake of 4,523 shares in Stride, Inc., valued at approximately $572,000, during the first quarter of the year.
• Stride, Inc. reported $2.29 earnings per share (EPS) for the last quarter, exceeding analysts' expectations by $0.46 and marking a 22.4% year-over-year revenue increase.
• Insider activity showed that CEO James Jeaho Rhyu sold 13,961 shares at an average price of $162.66, representing a 1.94% decrease in his ownership stake.

FORA Capital LLC purchased a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,523 shares of the company's stock, valued at approximately $572,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vestcor Inc boosted its holdings in Stride by 4.6% in the first quarter. Vestcor Inc now owns 2,328 shares of the company's stock valued at $294,000 after purchasing an additional 102 shares during the last quarter. Bosun Asset Management LLC boosted its holdings in Stride by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 8,292 shares of the company's stock valued at $862,000 after purchasing an additional 111 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Stride by 140.5% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after purchasing an additional 160 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Stride by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 7,111 shares of the company's stock valued at $900,000 after purchasing an additional 164 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the transaction, the chief executive officer owned 706,353 shares in the company, valued at $114,895,378.98. The trade was a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Stride Trading Down 1.1%

Stride stock traded down $1.81 during trading on Tuesday, reaching $161.39. 268,582 shares of the company were exchanged, compared to its average volume of 769,351. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $171.17. The company has a market capitalization of $7.04 billion, a P/E ratio of 26.74, a PEG ratio of 0.95 and a beta of 0.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The stock's 50 day simple moving average is $144.48 and its two-hundred day simple moving average is $141.11.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 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 for the quarter, compared to the consensus estimate of $626.23 million. During the same quarter last year, the business posted $1.42 earnings per share. The firm's revenue was up 22.4% compared to the same quarter last year. On average, equities research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.