Optivise Advisory Services LLC Acquires New Position in Stride, Inc. (NYSE:LRN)

Optivise Advisory Services LLC bought 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 (SEC). The fund bought 1,979 shares of the company's stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LRN. Point72 Hong Kong Ltd bought a new stake in Stride in the fourth quarter valued at about $41,000. CIBC Private Wealth Group LLC grew its stake in Stride by 85.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after buying an additional 178 shares during the last quarter. Fifth Third Bancorp grew its stake in Stride by 158.8% during the first quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after buying an additional 235 shares during the last quarter. Covestor Ltd grew its stake in Stride by 51.6% during the fourth quarter. Covestor Ltd now owns 632 shares of the company's stock worth $66,000 after buying an additional 215 shares during the last quarter. Finally, Gen Wealth Partners Inc bought a new stake in Stride during the fourth quarter worth about $75,000. Institutional investors own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

LRN has been the topic of several research analyst reports. Wall Street Zen cut shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Canaccord Genuity Group upped their price objective on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Barrington Research upped their price objective on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Finally, William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.83.

Stride Price Performance

Shares of LRN stock traded up $0.14 during trading hours on Thursday, reaching $144.64. 390,579 shares of the company were exchanged, compared to its average volume of 854,272. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $162.30. The stock's fifty day moving average is $147.08 and its two-hundred day moving average is $130.64. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.02 and a beta of 0.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a return on equity of 23.36% and a net margin of 13.10%. The company had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same quarter in the previous year, the company posted $1.60 earnings per share. Stride's revenue for the quarter was up 17.8% on a year-over-year basis. Sell-side analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

About Stride

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.