Stride, Inc. (NYSE:LRN) Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in Stride, Inc. by 42.1% during the first quarter, owning 47,365 shares valued at approximately $5.99 million.
• Multiple institutional investors, including Janus Henderson Group and Congress Asset Management, significantly boosted their stakes in Stride, indicating strong confidence in the company's potential.
• Stride reported earnings of $2.29 per share, surpassing analysts' expectations, with revenues rising 22.4% year-over-year to $653.65 million.

Townsquare Capital LLC raised its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 42.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,365 shares of the company's stock after buying an additional 14,037 shares during the period. Townsquare Capital LLC owned about 0.11% of Stride worth $5,992,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC boosted its holdings in Stride by 27.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock valued at $155,251,000 after purchasing an additional 323,275 shares during the last quarter. Congress Asset Management Co. raised its stake in Stride by 102.2% during the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock worth $147,973,000 after acquiring an additional 591,208 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Stride by 9.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 764,067 shares of the company's stock worth $79,411,000 after purchasing an additional 65,509 shares during the period. Deutsche Bank AG grew its position in shares of Stride by 10.4% during the first quarter. Deutsche Bank AG now owns 617,894 shares of the company's stock worth $78,164,000 after acquiring an additional 58,029 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after buying an additional 332,098 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LRN. Canaccord Genuity Group upped their target price on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Barrington Research restated an "outperform" rating and set a $170.00 price target on shares of Stride in a report on Thursday, July 24th. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $143.40.

Stride Trading Up 3.9%

NYSE LRN opened at $149.60 on Friday. The company has a market capitalization of $6.53 billion, a PE ratio of 24.85, a P/E/G ratio of 0.88 and a beta of 0.10. The stock has a 50-day simple moving average of $138.65 and a 200 day simple moving average of $137.81. The company has a current ratio of 5.39, a quick ratio of 5.53 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results 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. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same quarter in the prior year, the company earned $1.42 earnings per share. The business's quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

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.

Want to see what other hedge funds are holding LRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stride, Inc. (NYSE:LRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.