Hennessy Advisors Inc. Has $18.22 Million Stake in Stride, Inc. (NYSE:LRN)

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

A number of other hedge funds have also made changes to their positions in LRN. Empowered Funds LLC acquired a new position in shares of Stride during the 4th quarter valued at about $1,683,000. Louisiana State Employees Retirement System increased its holdings in shares of Stride by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the company's stock valued at $2,151,000 after acquiring an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Stride by 61.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company's stock valued at $20,250,000 after acquiring an additional 72,518 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Stride during the 4th quarter valued at about $5,696,000. Finally, Rhumbline Advisers grew its holdings in Stride by 0.8% in the 4th quarter. Rhumbline Advisers now owns 116,744 shares of the company's stock valued at $12,133,000 after buying an additional 908 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barrington Research raised their target price on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. William Blair reaffirmed an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a report on Thursday, May 1st. 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. Finally, Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $126.83.

Stride Price Performance

Shares of Stride stock traded up $1.10 during midday trading on Friday, hitting $143.06. 486,743 shares of the company were exchanged, compared to its average volume of 856,559. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. The firm has a market cap of $6.23 billion, a P/E ratio of 23.88, a PEG ratio of 1.04 and a beta of 0.35. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $162.30. The firm has a 50 day simple moving average of $146.04 and a 200-day simple moving average of $129.76.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.07). The company had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. Stride had a return on equity of 22.42% and a net margin of 12.30%. Stride's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 EPS. Research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current 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.