Nuveen LLC Takes Position in Stride, Inc. $LRN

Key Points

• Nuveen LLC has invested approximately $38.84 million in Stride, Inc. by purchasing 306,995 shares, which accounts for about 0.71% of the company's stock.
• Stride reported a $2.29 earnings per share (EPS) for the last quarter, exceeding expectations by $0.46, along with a revenue of $653.65 million, which is significantly above the analyst estimates.
• Current institutional ownership of Stride is high, with 98.24% of the stock controlled by institutional investors and hedge funds, indicating strong institutional confidence in the company's performance.

Nuveen LLC acquired a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 306,995 shares of the company's stock, valued at approximately $38,835,000. Nuveen LLC owned approximately 0.71% of Stride at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of LRN. DAVENPORT & Co LLC bought a new position in Stride during the first quarter valued at about $461,000. Canandaigua National Bank & Trust Co. bought a new position in Stride during the first quarter valued at about $273,000. GAMMA Investing LLC raised its holdings in Stride by 14,892.4% during the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after buying an additional 367,545 shares in the last quarter. Kestra Private Wealth Services LLC bought a new position in Stride during the first quarter valued at about $771,000. Finally, Keybank National Association OH raised its holdings in Stride by 65.8% during the first quarter. Keybank National Association OH now owns 6,413 shares of the company's stock valued at $811,000 after buying an additional 2,544 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Price Performance

Shares of LRN traded up $0.6510 on Tuesday, hitting $163.2810. The company's stock had a trading volume of 493,024 shares, compared to its average volume of 779,215. The company has a market capitalization of $7.12 billion, a PE ratio of 27.12, a PEG ratio of 0.94 and a beta of 0.10. 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, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $164.41. The company has a 50 day moving average price of $140.05 and a 200 day moving average price of $139.27.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Barrington Research restated an "outperform" rating and set a $170.00 target price on shares of Stride in a report on Thursday, July 24th. Morgan Stanley raised their target price on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. BMO Capital Markets restated an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

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.