Stride, Inc. (NYSE:LRN) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP has cut its stake in Stride, Inc. by 13.6%, now holding approximately 0.06% of the company, worth $3.135 million.
• Other institutional investors like Bosun Asset Management and First Horizon Advisors have increased their stakes, highlighting growing interest in the company among hedge funds.
• Despite missing EPS estimates for the recent quarter, Stride reported a 17.8% increase in year-over-year revenue, amounting to $613.38 million.

Royce & Associates LP lessened its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,780 shares of the company's stock after selling 3,898 shares during the quarter. Royce & Associates LP owned approximately 0.06% of Stride worth $3,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC acquired a new stake in Stride during the 1st quarter worth $461,000. Canandaigua National Bank & Trust Co. acquired a new position in shares of Stride during the 1st quarter valued at about $273,000. GAMMA Investing LLC boosted its position in shares of Stride by 14,892.4% during the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after acquiring an additional 367,545 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in Stride in the 1st quarter valued at about $771,000. Finally, Keybank National Association OH boosted its holdings in Stride by 65.8% in the 1st quarter. Keybank National Association OH now owns 6,413 shares of the company's stock valued at $811,000 after purchasing an additional 2,544 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LRN shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group increased their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. William Blair reiterated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Barrington Research reiterated an "outperform" rating and issued a $170.00 price objective on shares of Stride in a research note on Thursday, July 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $126.83.

Stride Price Performance

Stride stock traded up $0.87 during trading hours on Thursday, hitting $130.02. The stock had a trading volume of 130,321 shares, compared to its average volume of 768,209. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 0.83 and a beta of 0.32. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30. The stock's fifty day moving average is $141.34 and its two-hundred day moving average is $136.54. 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 posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a net margin of 13.10% and a return on equity of 23.36%. The company had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same period in the previous year, the business earned $1.60 EPS. The firm's revenue was up 17.8% on a year-over-year basis. As a group, analysts predict that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.