Stride, Inc. $LRN Shares Acquired by Versor Investments LP

Key Points

• Versor Investments LP increased its stake in Stride, Inc. by 60.9% during the 1st quarter, now holding shares valued at approximately $1.774 million.
• Stride's stock received an upgraded rating from Wall Street Zen to "buy" and currently holds a consensus rating of "Moderate Buy" with an average price target of $143.40.
• In its latest quarterly report, Stride reported $2.29 EPS, beating estimates by $0.46, and a 22.4% year-over-year revenue increase.

Versor Investments LP boosted its position in Stride, Inc. (NYSE:LRN - Free Report) by 60.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,026 shares of the company's stock after purchasing an additional 5,309 shares during the quarter. Versor Investments LP's holdings in Stride were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after buying an additional 160 shares during the period. First Horizon Advisors Inc. raised its holdings in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after acquiring an additional 156 shares during the last quarter. Harbour Investments Inc. raised its holdings in Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after acquiring an additional 266 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Stride by 158.8% during the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after purchasing an additional 235 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Stride during the fourth quarter worth $41,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRN has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their target price on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. William Blair reiterated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $143.40.

Stride Stock Up 0.4%

Shares of LRN traded up $0.6510 during mid-day trading on Tuesday, reaching $163.2810. 493,024 shares of the stock traded hands, compared to its average volume of 752,447. The stock has a fifty day simple moving average of $140.52 and a 200 day simple moving average of $139.44. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $164.41. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 0.95 and a beta of 0.10.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.46. The firm had revenue of $653.65 million for 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 posted $1.42 EPS. Sell-side analysts expect 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.