Fox Run Management L.L.C. Grows Stock Position in Stride, Inc. $LRN

Key Points

• Fox Run Management L.L.C. increased its stake in Stride, Inc. by 59.1%, acquiring an additional 3,740 shares during the first quarter, bringing its total to 10,064 shares valued at $1.27 million.
• Wall Street analysts have a positive outlook for Stride, with a consensus rating of "Moderate Buy" and an average target price of $143.40, reflecting a bullish sentiment among multiple brokerages.
• Stride, Inc. recently reported earnings of $2.29 per share, exceeding expectations and indicating a revenue increase of 22.4% year-over-year, highlighting its strong financial performance.

Fox Run Management L.L.C. raised its position in Stride, Inc. (NYSE:LRN - Free Report) by 59.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,064 shares of the company's stock after purchasing an additional 3,740 shares during the quarter. Fox Run Management L.L.C.'s holdings in Stride were worth $1,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LRN. Congress Asset Management Co. lifted its holdings in Stride by 102.2% during the 1st 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 in the last quarter. GAMMA Investing LLC increased its position in shares of Stride by 14,892.4% during the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after acquiring an additional 367,545 shares during the period. Cat Rock Capital Management LP purchased a new position in shares of Stride during the fourth quarter worth approximately $36,694,000. Wellington Management Group LLP raised its stake in shares of Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after acquiring an additional 332,098 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Stride by 27.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock valued at $155,251,000 after purchasing an additional 323,275 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Stride Stock Down 0.1%

Shares of NYSE LRN traded down $0.2130 during mid-day trading on Wednesday, reaching $163.4070. 510,086 shares of the company were exchanged, compared to its average volume of 751,898. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $164.41. The firm has a 50-day moving average of $140.95 and a 200 day moving average of $139.60. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 0.96 and a beta of 0.10. 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 posted its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) 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 firm's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 earnings per share. On average, research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LRN has been the topic of several research reports. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Barrington Research reissued an "outperform" rating and set a $170.00 price target on shares of Stride in a research report on Thursday, July 24th. William Blair restated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group increased their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $143.40.

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.