Strs Ohio Purchases New Stake in Stride, Inc. $LRN

Key Points

• Strs Ohio has acquired a new stake in Stride, Inc. worth approximately $506,000, having purchased 4,000 shares during the first quarter.
• Several investment firms have significantly increased their holdings in Stride, with Larson Financial Group boosting its position by 333.3% this quarter.
• Stride reported earnings of $2.29 per share, exceeding expectations and showcasing a 22.4% increase in revenue compared to the same period last year.

Strs Ohio purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,000 shares of the company's stock, valued at approximately $506,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LRN. Larson Financial Group LLC grew its stake in shares of 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 buying an additional 160 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of 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 buying an additional 156 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Stride by 374.6% in the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after buying an additional 266 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Stride in the first quarter valued at $43,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Stride by 62.7% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock valued at $43,000 after buying an additional 131 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LRN. Barrington Research raised their target price on shares of Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Morgan Stanley raised their price target on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Stride presently has an average rating of "Moderate Buy" and an average target price of $146.40.

Insider Activity at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company's stock.

Stride Stock Performance

Shares of LRN stock traded up $2.21 on Monday, hitting $143.92. The company's stock had a trading volume of 663,800 shares, compared to its average volume of 779,649. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. The stock's 50 day moving average is $148.64 and its 200-day moving average is $142.85. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $171.17. The company has a market capitalization of $6.28 billion, a PE ratio of 23.91, a PEG ratio of 0.83 and a beta of 0.22.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 EPS 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 business had revenue of $653.65 million for the quarter, compared to the consensus estimate of $626.23 million. During the same period in the prior year, the company posted $1.42 earnings per share. Stride's revenue was up 22.4% compared to the same quarter last year. Equities research analysts expect 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.