Global Endowment Management LP Acquires Shares of 3,976 Stride, Inc. (NYSE:LRN)

Key Points

• Global Endowment Management LP acquired 3,976 shares of Stride, Inc. (NYSE:LRN) valued at approximately $503,000, indicating growing institutional interest in the company.
• Stride, Inc. reported a substantial earnings per share (EPS) of $2.29, surpassing analyst expectations of $1.83 and posting a revenue increase of 22.4% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Stride, with an average target price of $143.40, reflecting optimism for future growth.

Global Endowment Management LP bought a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,976 shares of the company's stock, valued at approximately $503,000.

A number of other institutional investors have also recently modified their holdings of LRN. Summit Investment Advisors Inc. grew its position in shares of Stride by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,455 shares of the company's stock valued at $463,000 after acquiring an additional 222 shares during the period. Mariner LLC grew its position in shares of Stride by 28.0% during the 4th quarter. Mariner LLC now owns 16,905 shares of the company's stock valued at $1,757,000 after acquiring an additional 3,698 shares during the period. NewEdge Advisors LLC grew its position in shares of Stride by 4,870.2% during the 4th quarter. NewEdge Advisors LLC now owns 2,833 shares of the company's stock valued at $294,000 after acquiring an additional 2,776 shares during the period. Marshall Wace LLP grew its position in shares of Stride by 5,714.9% during the 4th quarter. Marshall Wace LLP now owns 217,885 shares of the company's stock valued at $22,645,000 after acquiring an additional 214,138 shares during the period. Finally, Zacks Investment Management boosted its holdings in Stride by 6.7% in the 4th quarter. Zacks Investment Management now owns 39,902 shares of the company's stock worth $4,147,000 after buying an additional 2,510 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Stride Trading Up 2.2%

Shares of Stride stock opened at $160.47 on Friday. The stock has a market cap of $7.00 billion, a P/E ratio of 26.66, a P/E/G ratio of 0.92 and a beta of 0.10. The stock's 50 day simple moving average is $139.62 and its 200-day simple moving average is $138.96. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

Stride (NYSE:LRN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.46. The business had revenue of $653.65 million for the quarter, compared to analysts' expectations of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 EPS. Analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal 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.

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