Informed Momentum Co LLC Makes New Investment in Stride, Inc. (NYSE:LRN)

Key Points

• Informed Momentum Co LLC has acquired a $4.51 million position in Stride, Inc. with approximately 35,637 shares, making it the firm's 21st largest holding.
• Stride, Inc. reported strong quarterly earnings with $2.29 earnings per share, exceeding expectations by $0.46 and showing a 22.4% increase in revenue year-over-year.
• Most analysts hold a Moderate Buy consensus rating on Stride, with price targets being raised by several firms, including Morgan Stanley and Canaccord Genuity Group.

Informed Momentum Co LLC purchased a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,637 shares of the company's stock, valued at approximately $4,508,000. Stride accounts for 0.8% of Informed Momentum Co LLC's investment portfolio, making the stock its 21st biggest position. Informed Momentum Co LLC owned about 0.08% of Stride at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vestcor Inc raised its stake in Stride by 4.6% during the 1st quarter. Vestcor Inc now owns 2,328 shares of the company's stock worth $294,000 after buying an additional 102 shares during the period. Bosun Asset Management LLC raised its stake in shares of 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 period. First Horizon Advisors Inc. raised its stake in shares of Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares during the period. Larson Financial Group LLC raised its stake in shares of Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after purchasing an additional 160 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Stride by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,111 shares of the company's stock valued at $900,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Stock Down 0.7%

Shares of NYSE LRN traded down $1.12 during mid-day trading on Thursday, hitting $157.23. The company had a trading volume of 495,394 shares, compared to its average volume of 782,906. The company has a market capitalization of $6.86 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 0.92 and a beta of 0.10. The firm has a 50-day simple moving average of $139.06 and a two-hundred day simple moving average of $138.42. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. Stride, Inc. has a one year low of $63.25 and a one year high of $162.30.

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

Wall Street Analysts Forecast Growth

LRN has been the topic of several recent research reports. Canaccord Genuity Group lifted their price target on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. William Blair reissued an "outperform" rating on shares of Stride 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. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Finally, Morgan Stanley lifted their price target on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Stride has an average rating of "Moderate Buy" and a consensus target price of $143.40.

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.