Rezny Wealth Management Inc. Acquires Shares of 14,069 Stride, Inc. (NYSE:LRN)

Key Points

• Rezny Wealth Management Inc. has acquired 14,069 shares of Stride, Inc., valued at approximately $1.78 million, now constituting 0.5% of its investment portfolio.
• Stride, Inc. recently reported strong quarterly earnings, with an EPS of $2.29, exceeding analysts' consensus estimate of $1.83 by $0.46.
• Multiple analysts have raised their price targets for Stride, with Morgan Stanley increasing its target from $148 to $159 and maintaining an "equal weight" rating.

Rezny Wealth Management Inc. bought a new stake in Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,069 shares of the company's stock, valued at approximately $1,780,000. Stride accounts for about 0.5% of Rezny Wealth Management Inc.'s investment portfolio, making the stock its 20th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. Vestcor Inc raised its holdings in Stride by 4.6% in the first quarter. Vestcor Inc now owns 2,328 shares of the company's stock valued at $294,000 after acquiring an additional 102 shares in the last quarter. Bosun Asset Management LLC increased its position in shares of Stride by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 8,292 shares of the company's stock worth $862,000 after purchasing an additional 111 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after purchasing an additional 160 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Stride by 2.4% during the first quarter. PNC Financial Services Group Inc. now owns 7,111 shares of the company's stock worth $900,000 after purchasing an additional 164 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Performance

LRN stock opened at $143.95 on Friday. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 0.96 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.53 and a current ratio of 5.39. The stock's fifty day moving average is $138.69 and its two-hundred day moving average is $137.44.

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

Analysts Set New Price Targets

LRN has been the topic of several research reports. Morgan Stanley upped their price objective on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday. Canaccord Genuity Group upped their price target on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Barrington Research reissued an "outperform" rating and set a $170.00 target price on shares of Stride in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $135.17.

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.

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