Wedge Capital Management L L P NC Makes New Investment in Stride, Inc. (NYSE:LRN)

Wedge Capital Management L L P NC purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 305,124 shares of the company's stock, valued at approximately $38,598,000. Wedge Capital Management L L P NC owned 0.70% of Stride as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Asset Management One Co. Ltd. acquired a new position in Stride during the fourth quarter worth about $5,696,000. Congress Asset Management Co. boosted its stake in shares of Stride by 8.2% during the 4th quarter. Congress Asset Management Co. now owns 578,540 shares of the company's stock worth $60,128,000 after acquiring an additional 43,829 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Stride in the 4th quarter worth approximately $995,000. Truist Financial Corp acquired a new stake in shares of Stride in the 4th quarter worth approximately $302,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Stride by 61.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company's stock valued at $20,250,000 after purchasing an additional 72,518 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LRN shares. Barrington Research upped their target price on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. William Blair restated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Canaccord Genuity Group upped their price target on shares of Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Finally, Wall Street Zen cut 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 given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.83.

Stride Trading Up 0.4%

Shares of Stride stock opened at $145.21 on Friday. The firm has a market cap of $6.32 billion, a PE ratio of 24.24, a P/E/G ratio of 1.04 and a beta of 0.35. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $162.30. The business's fifty day moving average is $144.64 and its two-hundred day moving average is $128.52.

Stride (NYSE:LRN - Get Free Report) last issued 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). The business had revenue of $613.38 million during the quarter, compared to analyst estimates of $591.15 million. Stride had a return on equity of 22.42% and a net margin of 12.30%. The firm's quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. Analysts anticipate that Stride, Inc. will post 6.67 earnings per share 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.

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