PDT Partners LLC Has $7.91 Million Stake in Stride, Inc. $LRN

Key Points

• PDT Partners LLC increased its stake in Stride, Inc. by 69.5%, acquiring an additional 25,641 shares, which now accounts for approximately 0.6% of its total holdings.
• Stride, Inc. reported $653.65 million in revenue for the recent quarter, surpassing analysts' expectations, and achieved an EPS of $2.29, which was significantly above the forecast of $1.83.
• The stock has seen substantial activity from institutional investors, with 98.24% of its shares currently owned by these entities, indicating strong interest in the company.

PDT Partners LLC lifted its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 69.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,525 shares of the company's stock after purchasing an additional 25,641 shares during the quarter. Stride makes up about 0.6% of PDT Partners LLC's holdings, making the stock its 14th biggest position. PDT Partners LLC owned approximately 0.14% of Stride worth $7,909,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Congress Asset Management Co. raised its stake in shares of Stride by 102.2% in the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after acquiring an additional 591,208 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Stride by 14,892.4% in the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after purchasing an additional 367,545 shares during the period. Cat Rock Capital Management LP bought a new position in shares of Stride in the fourth quarter valued at approximately $36,694,000. Wellington Management Group LLP lifted its stake in shares of Stride by 120.6% in the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock worth $63,146,000 after buying an additional 332,098 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Stride by 27.6% during the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock worth $155,251,000 after buying an additional 323,275 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on LRN shares. Barrington Research raised their target price on shares of Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Morgan Stanley lifted their price objective on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Stride has a consensus rating of "Moderate Buy" and a consensus target price of $146.40.

Stride Price Performance

Shares of NYSE:LRN traded up $2.36 during midday trading on Thursday, reaching $162.14. 396,970 shares of the company's stock were exchanged, compared to its average volume of 766,648. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. The company's 50 day simple moving average is $145.58 and its two-hundred day simple moving average is $141.53. The firm has a market capitalization of $7.07 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 0.95 and a beta of 0.22. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17.

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

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the sale, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by company 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.