Mountain Pacific Investment Advisers LLC Purchases Shares of 37,256 Stride, Inc. $LRN

Key Points

• Mountain Pacific Investment Advisers LLC acquired 37,256 shares of Stride, Inc., valued at approximately $5.4 million, during the second quarter, representing 0.09% of the company's total shares.
• Stride reported earnings per share of $2.29 for the last quarter, exceeding analyst expectations and achieving a 22.4% increase in revenue year-over-year.
• Several analysts have revised their price targets for Stride, with Morgan Stanley lifting its target from $148 to $159, while Barrington Research set a target of $185 with an "outperform" rating.

Mountain Pacific Investment Advisers LLC acquired a new position in Stride, Inc. (NYSE:LRN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 37,256 shares of the company's stock, valued at approximately $5,409,000. Mountain Pacific Investment Advisers LLC owned about 0.09% of Stride as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Congress Asset Management Co. lifted its holdings in shares of Stride by 102.2% during 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. Swedbank AB raised its stake in Stride by 5.4% in the first quarter. Swedbank AB now owns 1,009,726 shares of the company's stock valued at $127,730,000 after buying an additional 52,000 shares during the last quarter. Deutsche Bank AG boosted its holdings in Stride by 10.4% in the first quarter. Deutsche Bank AG now owns 617,894 shares of the company's stock worth $78,164,000 after acquiring an additional 58,029 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of Stride by 12.3% during the first quarter. Driehaus Capital Management LLC now owns 613,820 shares of the company's stock worth $77,648,000 after acquiring an additional 67,184 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Stride by 1.3% during the first quarter. Northern Trust Corp now owns 467,774 shares of the company's stock worth $59,173,000 after acquiring an additional 5,820 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Down 2.9%

LRN stock opened at $144.68 on Thursday. The company has a market capitalization of $6.31 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 0.85 and a beta of 0.07. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17. The firm's fifty day simple moving average is $150.62 and its 200-day simple moving average is $143.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

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

Analysts Set New Price Targets

Several equities analysts recently commented on LRN shares. Morgan Stanley increased their price objective on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Barrington Research reiterated an "outperform" rating and set a $185.00 price objective on shares of Stride in a research note on Tuesday, September 23rd. Finally, Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Stride has an average rating of "Moderate Buy" and an average target price of $146.40.

Insider Activity at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the completion of the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at approximately $114,895,378.98. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.

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.

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