Ritholtz Wealth Management Increases Position in Stride, Inc. (NYSE:LRN)

Ritholtz Wealth Management boosted its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 27.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,800 shares of the company's stock after purchasing an additional 2,753 shares during the period. Ritholtz Wealth Management's holdings in Stride were worth $1,619,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Asset Management One Co. Ltd. purchased a new position in Stride during the fourth quarter worth about $5,696,000. Aigen Investment Management LP purchased a new position in Stride during the fourth quarter worth about $995,000. Truist Financial Corp purchased a new position in Stride during the fourth quarter worth about $302,000. Allspring Global Investments Holdings LLC raised its stake in Stride by 61.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company's stock worth $20,250,000 after purchasing an additional 72,518 shares during the period. Finally, GAMMA Investing LLC raised its stake in Stride by 14,892.4% during the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after purchasing an additional 367,545 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on LRN. Canaccord Genuity Group lifted their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. BMO Capital Markets restated an "outperform" rating on shares of Stride in a report on Thursday, May 1st. William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Barrington Research upped their price objective on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $126.83.

Stride Stock Up 0.1%

LRN traded up $0.14 during trading hours on Wednesday, hitting $144.64. 390,579 shares of the company's stock were exchanged, compared to its average volume of 854,272. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. The firm has a 50 day moving average of $146.64 and a 200 day moving average of $130.28. The firm has a market cap of $6.29 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.02 and a beta of 0.35. 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 (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a return on equity of 23.36% and a net margin of 13.10%. The business had revenue of $613.38 million for the quarter, compared to analysts' expectations of $591.15 million. During the same period in the previous year, the company earned $1.60 earnings per share. Stride's quarterly revenue was up 17.8% on a year-over-year basis. Analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

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.