Sheaff Brock Investment Advisors LLC Buys New Position in Stride, Inc. (NYSE:LRN)

Key Points

• Sheaff Brock Investment Advisors LLC has acquired a new position in Stride, Inc., purchasing 3,810 shares valued at approximately $482,000 during the first quarter.
• Despite missing earnings expectations with an EPS of $2.02, Stride's quarterly revenue increased by 17.8% year-over-year, reaching $613.38 million.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with a target price averaging $126.83.

Sheaff Brock Investment Advisors LLC purchased a new position in Stride, Inc. (NYSE:LRN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,810 shares of the company's stock, valued at approximately $482,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC grew its stake in Stride by 132.2% in the first quarter. LPL Financial LLC now owns 119,382 shares of the company's stock worth $15,102,000 after purchasing an additional 67,971 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Stride by 3.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,224 shares of the company's stock worth $1,799,000 after purchasing an additional 410 shares during the period. HB Wealth Management LLC purchased a new stake in Stride in the first quarter worth $308,000. Westover Capital Advisors LLC grew its stake in Stride by 18.8% in the first quarter. Westover Capital Advisors LLC now owns 9,150 shares of the company's stock worth $1,157,000 after purchasing an additional 1,445 shares during the period. Finally, Assetmark Inc. grew its stake in Stride by 530.9% in the first quarter. Assetmark Inc. now owns 11,407 shares of the company's stock worth $1,443,000 after purchasing an additional 9,599 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Trading Down 1.0%

NYSE LRN opened at $128.64 on Tuesday. The company has a current ratio of 5.61, a quick ratio of 5.53 and a debt-to-equity ratio of 0.33. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30. The stock has a market cap of $5.60 billion, a P/E ratio of 20.07, a P/E/G ratio of 0.84 and a beta of 0.32. The stock's fifty day moving average price is $141.91 and its 200-day moving average price is $136.60.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a net margin of 13.10% and a return on equity of 23.36%. The business had revenue of $613.38 million for the quarter, compared to analysts' expectations of $591.15 million. During the same period last year, the business earned $1.60 earnings per share. The company's quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LRN has been the topic of several recent research reports. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group increased their target price on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. William Blair reissued an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Finally, Barrington Research reissued an "outperform" rating and issued a $170.00 target price on shares of Stride in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.83.

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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