Independent Advisor Alliance Purchases Shares of 10,252 Stride, Inc. (NYSE:LRN)

Key Points

• Independent Advisor Alliance has acquired a new stake in Stride, Inc. valued at approximately $1.30 million, purchasing 10,252 shares of its stock.
• Several institutional investors have increased their holdings in Stride, with 98.24% of the stock now owned by such investors.
• Stride reported $2.29 earnings per share for the latest quarter, exceeding analyst estimates, and indicating a year-over-year revenue growth of 22.4%.

Independent Advisor Alliance acquired a new position in Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,252 shares of the company's stock, valued at approximately $1,297,000.

Several other hedge funds also recently modified their holdings of LRN. Covestor Ltd grew its position in Stride by 51.6% during the fourth quarter. Covestor Ltd now owns 632 shares of the company's stock valued at $66,000 after buying an additional 215 shares during the period. Townsquare Capital LLC raised its stake in shares of Stride by 23.2% during the fourth quarter. Townsquare Capital LLC now owns 33,328 shares of the company's stock valued at $3,464,000 after acquiring an additional 6,284 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings 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 buying an additional 222 shares in the last quarter. Mariner LLC raised its holdings in Stride by 28.0% in the fourth quarter. Mariner LLC now owns 16,905 shares of the company's stock worth $1,757,000 after buying an additional 3,698 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Stride in the fourth quarter worth $7,535,000. Institutional investors own 98.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRN. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Canaccord Genuity Group lifted their target price on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Morgan Stanley upped their price target on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, William Blair restated 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 issued a buy rating to the stock. According to data from MarketBeat, Stride has an average rating of "Moderate Buy" and an average price target of $143.40.

Stride Trading Down 0.7%

Stride stock traded down $1.12 during trading hours on Thursday, reaching $157.23. 495,394 shares of the company's stock traded hands, compared to its average volume of 766,976. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 0.93 and a beta of 0.10. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $162.30. The firm's 50 day moving average is $139.32 and its 200-day moving average is $138.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. The company had revenue of $653.65 million during 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 was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 earnings per share. On average, analysts predict that Stride, Inc. will post 6.67 earnings per share for the current 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.