Stride, Inc. (NYSE:LRN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 14,892.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,013 shares of the company's stock after purchasing an additional 367,545 shares during the period. GAMMA Investing LLC owned about 0.85% of Stride worth $46,807,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Asset Management One Co. Ltd. acquired a new stake in Stride in the fourth quarter valued at approximately $5,696,000. Congress Asset Management Co. lifted its stake in shares of Stride by 8.2% in the 4th quarter. Congress Asset Management Co. now owns 578,540 shares of the company's stock valued at $60,128,000 after acquiring an additional 43,829 shares during the last quarter. Aigen Investment Management LP purchased a new position in Stride in the 4th quarter worth approximately $995,000. Truist Financial Corp purchased a new position in shares of Stride in the fourth quarter valued at about $302,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Stride by 61.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company's stock worth $20,250,000 after purchasing an additional 72,518 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Barrington Research boosted their price objective on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group upped their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Stride presently has an average rating of "Moderate Buy" and an average target price of $126.83.

Stride Stock Performance

Shares of NYSE LRN traded up $0.52 during trading on Friday, reaching $145.21. 552,955 shares of the company traded hands, compared to its average volume of 857,587. The firm's fifty day simple moving average is $144.64 and its 200 day simple moving average is $128.52. The stock has a market cap of $6.32 billion, a P/E ratio of 24.24, a PEG ratio of 1.04 and a beta of 0.35. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN - Get Free Report) last posted 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). The firm had revenue of $613.38 million during the quarter, compared to analyst estimates of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. The business's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 earnings per share. As a group, research analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.