4,100 Shares in Stride, Inc. (NYSE:LRN) Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has invested approximately $519,000 in Stride, Inc. by purchasing 4,100 shares during the first quarter.
• Stride, Inc. reported earnings of $2.02 per share in its last quarterly earnings, which was below the consensus estimate of $2.09.
• Analysts have a consensus rating of "Moderate Buy" for Stride, with an average target price of $126.83, reflecting favorable sentiments in the market.

Y Intercept Hong Kong Ltd purchased a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,100 shares of the company's stock, valued at approximately $519,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Stride by 333.3% in the 1st 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 last quarter. First Horizon Advisors Inc. increased its stake 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 buying an additional 156 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Stride in the 4th quarter valued at $41,000. CIBC Private Wealth Group LLC increased its stake in shares of Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after purchasing an additional 178 shares during the last quarter. Finally, Fifth Third Bancorp increased 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 last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Barrington Research reiterated an "outperform" rating and issued a $170.00 price target on shares of Stride in a research note on Thursday. 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 research note on Monday, April 28th. William Blair reiterated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.83.

Stride Price Performance

Shares of Stride stock traded down $1.30 on Monday, reaching $128.64. 592,403 shares of the stock were exchanged, compared to its average volume of 545,769. The firm's 50 day moving average is $142.47 and its 200-day moving average is $136.48. Stride, Inc. has a one year low of $63.25 and a one year high of $162.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.53 and a current ratio of 5.61. The firm has a market cap of $5.60 billion, a PE ratio of 20.07, a P/E/G ratio of 0.84 and a beta of 0.32.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a return on equity of 23.36% and a net margin of 13.10%. The firm had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. During the same period last year, the company posted $1.60 EPS. The business's revenue was up 17.8% on a year-over-year basis. As a group, analysts anticipate 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.