Graham Capital Management L.P. Has $1.20 Million Stake in Stride, Inc. $LRN

Key Points

• Graham Capital Management L.P. increased its stake in Stride, Inc. by 188.1%, owning a total of 9,461 shares worth approximately $1,197,000.
• Stride's stock experienced a 1.2% decline, with a market capitalization of $6.97 billion and a current price of $159.77.
• The company recently reported a Q2 EPS of $2.29, exceeding expectations, and a 22.4% year-over-year revenue increase to $653.65 million.

Graham Capital Management L.P. increased its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 188.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,461 shares of the company's stock after acquiring an additional 6,177 shares during the period. Graham Capital Management L.P.'s holdings in Stride were worth $1,197,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Ewing Morris & Co. Investment Partners Ltd. purchased a new stake in shares of Stride during the 1st quarter worth approximately $192,000. Vident Advisory LLC lifted its position in Stride by 2.9% in the first quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock worth $372,000 after purchasing an additional 84 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Stride by 18.8% in the first quarter. Evergreen Capital Management LLC now owns 2,982 shares of the company's stock valued at $377,000 after purchasing an additional 471 shares in the last quarter. Magnetar Financial LLC bought a new position in Stride during the first quarter valued at about $266,000. Finally, Driehaus Capital Management LLC increased its position in Stride by 12.3% during the first quarter. Driehaus Capital Management LLC now owns 613,820 shares of the company's stock worth $77,648,000 after acquiring an additional 67,184 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Stride Price Performance

LRN traded up $3.04 during midday trading on Monday, hitting $163.77. 232,762 shares of the company traded hands, compared to its average volume of 762,112. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $171.17. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 0.94 and a beta of 0.22. The business has a 50 day simple moving average of $145.88 and a two-hundred day simple moving average of $141.68. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. The company had revenue of $653.65 million during 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%. The firm's quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. On average, equities analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Insider Activity at Stride

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

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.