Stride, Inc. (NYSE:LRN) Stake Reduced by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its position in Stride, Inc. (NYSE:LRN - Free Report) by 10.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,000 shares of the company's stock after selling 16,400 shares during the period. Hennessy Advisors Inc. owned approximately 0.33% of Stride worth $18,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC lifted its holdings in Stride by 1.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company's stock valued at $675,000 after acquiring an additional 93 shares during the period. Arizona State Retirement System boosted its position in Stride by 0.8% in the 4th quarter. Arizona State Retirement System now owns 11,932 shares of the company's stock worth $1,240,000 after purchasing an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Stride by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,074 shares of the company's stock worth $1,047,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System raised its stake in Stride by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the company's stock valued at $2,151,000 after purchasing an additional 100 shares during the last quarter. Finally, Bosun Asset Management LLC raised its stake in Stride by 1.4% in the 4th 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. Hedge funds and other institutional investors own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

LRN has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their target price on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. Barrington Research boosted their target price on Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Wall Street Zen cut Stride from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Finally, William Blair restated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $126.83.

Stride Trading Up 0.4%

NYSE LRN traded up $0.59 during trading hours on Tuesday, hitting $144.29. 396,579 shares of the company's stock were exchanged, compared to its average volume of 819,944. The business's 50 day moving average is $146.42 and its 200-day moving average is $130.18. The firm has a market capitalization of $6.28 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The business had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same quarter last year, the business earned $1.60 EPS. Stride's revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, analysts anticipate 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.