Illinois Municipal Retirement Fund Buys 1,772 Shares of Stride, Inc. (NYSE:LRN)

Illinois Municipal Retirement Fund raised its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 7.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,519 shares of the company's stock after purchasing an additional 1,772 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of Stride worth $3,102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Congress Asset Management Co. increased its stake in shares of Stride by 102.2% in the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after purchasing an additional 591,208 shares during the last quarter. Norges Bank bought a new position in Stride in the fourth quarter valued at about $45,306,000. Arrowstreet Capital Limited Partnership raised its stake in Stride by 783.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company's stock worth $47,095,000 after acquiring an additional 401,838 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Stride by 18.0% in the fourth quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock worth $256,397,000 after acquiring an additional 375,686 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Stride by 14,892.4% in 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 last quarter. 98.24% of the stock is owned by institutional investors.

Stride Trading Down 0.4%

Stride stock traded down $0.58 during mid-day trading on Monday, hitting $145.04. 467,801 shares of the stock were exchanged, compared to its average volume of 854,627. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.03 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 quick ratio of 5.53, a current ratio of 5.61 and a debt-to-equity ratio of 0.33. The firm's fifty day simple moving average is $148.13 and its two-hundred day simple moving average is $132.45.

Stride (NYSE:LRN - Get Free Report) last released 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 business had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. Stride had a return on equity of 23.36% and a net margin of 13.10%. The company's revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. Analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analyst Weigh In

LRN has been the subject of several research reports. Barrington Research increased their price objective on shares of Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Canaccord Genuity Group upped their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Finally, William Blair restated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Stride presently has an average rating of "Moderate Buy" and a consensus price target of $126.83.

Stride 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.