JB Capital Partners LP Buys New Shares in Stride, Inc. $LRN

Key Points

• JB Capital Partners LP initiated a position in Stride by purchasing 35,000 shares valued at approximately $3.0 billion, representing about 0.08% of the company. Institutional investors collectively own 98.24% of Stride.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and an average price target of $109.75; William Blair recently downgraded the stock to “market perform.”
• Stride exceeded quarterly earnings expectations, reporting $2.12 EPS versus a $1.64 consensus estimate and $636.06 million in revenue, although revenue declined 2.7% year over year.

JB Capital Partners LP bought a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 35,000 shares of the company's stock, valued at approximately $3,018,400,000. JB Capital Partners LP owned approximately 0.08% of Stride at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in Stride in the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company's stock valued at $28,000 after acquiring an additional 85 shares in the last quarter. Leonteq Securities AG purchased a new position in Stride in the fourth quarter worth approximately $35,000. EverSource Wealth Advisors LLC lifted its stake in Stride by 108.7% in the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company's stock worth $38,000 after acquiring an additional 225 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Stride by 482.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company's stock worth $40,000 after acquiring an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LRN. Weiss Ratings restated a "hold (c)" rating on shares of Stride in a report on Wednesday, July 8th. BMO Capital Markets reiterated a "market perform" rating on shares of Stride in a research note on Monday, June 15th. Finally, William Blair lowered Stride from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $109.75.

Stride Stock Performance

Shares of Stride stock opened at $84.13 on Friday. The firm has a market capitalization of $3.50 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.49 and a beta of 0.11. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17. The company has a quick ratio of 5.81, a current ratio of 5.94 and a debt-to-equity ratio of 0.29. The firm's 50 day moving average is $85.59 and its two-hundred day moving average is $88.37.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.48. Stride had a net margin of 13.43% and a return on equity of 23.49%. The business had revenue of $636.06 million during the quarter, compared to the consensus estimate of $626.52 million. During the same quarter in the previous year, the firm earned $2.29 EPS. The company's revenue was down 2.7% compared to the same quarter last year. Research analysts forecast that Stride, Inc. will post 8.62 EPS for the current fiscal year.

Stride Profile

Stride, Inc NYSE: LRN is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company's blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.

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