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

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

Other hedge funds also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its stake in shares of Stride by 1.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company's stock valued at $675,000 after acquiring an additional 93 shares during the period. Arizona State Retirement System increased its stake in Stride by 0.8% during the fourth quarter. Arizona State Retirement System now owns 11,932 shares of the company's stock worth $1,240,000 after purchasing an additional 99 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Stride by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the company's stock worth $2,151,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Stride by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,074 shares of the company's stock valued at $1,047,000 after purchasing an additional 100 shares during the period. Finally, Bosun Asset Management LLC boosted its stake in shares of Stride by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 8,292 shares of the company's stock valued at $862,000 after purchasing an additional 111 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Performance

Shares of LRN traded up $2.22 during mid-day trading on Wednesday, reaching $141.97. 819,058 shares of the company's stock were exchanged, compared to its average volume of 856,049. The business's fifty day simple moving average is $145.02 and its 200-day simple moving average is $129.03. The stock has a market capitalization of $6.18 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $162.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93.

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 the consensus estimate of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The company had revenue of $613.38 million during the quarter, compared to analyst estimates of $591.15 million. During the same quarter last year, the firm earned $1.60 EPS. The business's revenue was up 17.8% on a year-over-year basis. On average, equities research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.