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

Legato Capital Management LLC raised its position in Stride, Inc. (NYSE:LRN - Free Report) by 57.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,289 shares of the company's stock after purchasing an additional 4,140 shares during the quarter. Legato Capital Management LLC's holdings in Stride were worth $1,428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bosun Asset Management LLC raised its position in Stride by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 8,292 shares of the company's stock valued at $862,000 after purchasing an additional 111 shares during the period. First Horizon Advisors Inc. raised its position in Stride by 140.5% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares during the period. Larson Financial Group LLC raised its position in Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after purchasing an additional 160 shares during the period. CIBC Private Wealth Group LLC raised its position in Stride by 85.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after purchasing an additional 178 shares during the period. Finally, NDVR Inc. raised its position in Stride by 5.1% in the fourth quarter. NDVR Inc. now owns 3,762 shares of the company's stock valued at $391,000 after purchasing an additional 182 shares during the period. Hedge funds and other institutional investors own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. William Blair reissued an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Barrington Research reaffirmed an "outperform" rating and set a $170.00 price objective on shares of Stride in a research report on Thursday. Finally, Canaccord Genuity Group upped their price objective on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.83.

Stride Stock Up 0.4%

Shares of LRN stock traded up $0.58 on Friday, reaching $129.79. 344,240 shares of the stock were exchanged, compared to its average volume of 776,148. 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 twelve month low of $63.25 and a twelve month high of $162.30. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 0.84 and a beta of 0.32. The business's 50 day moving average price is $142.96 and its 200 day moving average price is $135.94.

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