5,481 Shares in Stride, Inc. $LRN Bought by Truvestments Capital LLC

Key Points

• Truvestments Capital LLC has acquired a new position in Stride, Inc., purchasing 5,481 shares valued at approximately $693,000 during the first quarter of the year.
• Stride, Inc. reported a quarterly earnings per share (EPS) of $2.29, significantly exceeding analysts' consensus estimates of $1.83, with a year-over-year revenue increase of 22.4%.
• Analysts maintain a consensus rating of "Moderate Buy" for Stride, Inc., with an average price target of $143.40, while Barrington Research set a target price at $170.00.

Truvestments Capital LLC acquired a new position in Stride, Inc. (NYSE:LRN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,481 shares of the company's stock, valued at approximately $693,000.

Other large investors have also modified their holdings of the company. DAVENPORT & Co LLC acquired a new position in shares of Stride during the 1st quarter worth about $461,000. Canandaigua National Bank & Trust Co. acquired a new position in shares of Stride during the 1st quarter worth about $273,000. GAMMA Investing LLC raised its position in shares of Stride by 14,892.4% during the 1st 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 last quarter. CW Advisors LLC raised its position in shares of Stride by 89.5% during the 1st quarter. CW Advisors LLC now owns 161,458 shares of the company's stock worth $20,424,000 after purchasing an additional 76,260 shares during the last quarter. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Stride during the 1st quarter worth about $771,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Insider Transactions at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the sale, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on LRN. Morgan Stanley increased their price objective 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. Wall Street Zen downgraded shares of Stride from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Barrington Research increased their price objective on shares of Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Friday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.40.

Stride Trading Down 1.6%

Shares of NYSE:LRN traded down $2.63 during mid-day trading on Monday, reaching $163.03. 634,175 shares of the company were exchanged, compared to its average volume of 799,202. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 0.95 and a beta of 0.22. The firm's 50-day simple moving average is $144.16 and its 200 day simple moving average is $140.95. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $171.17.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. The firm had revenue of $653.65 million during the quarter, compared to analysts' expectations 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 last year, the company posted $1.42 EPS. Equities research analysts forecast that Stride, Inc. will post 6.67 EPS for the current 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.