Graham Capital Management L.P. Purchases New Shares in Stride, Inc. (NYSE:LRN)

Graham Capital Management L.P. acquired a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,284 shares of the company's stock, valued at approximately $341,000.

Several other institutional investors and hedge funds have also modified their holdings of LRN. R Squared Ltd acquired a new stake in Stride in the 4th quarter worth about $37,000. CIBC Private Wealth Group LLC boosted its position in shares of Stride by 85.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after acquiring an additional 178 shares during the last quarter. Covestor Ltd boosted its position in shares of Stride by 51.6% in the fourth quarter. Covestor Ltd now owns 632 shares of the company's stock worth $66,000 after acquiring an additional 215 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Stride during the fourth quarter worth approximately $77,000. Finally, Smartleaf Asset Management LLC increased its position in Stride by 372.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 751 shares of the company's stock worth $79,000 after purchasing an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Trading Up 0.3%

Shares of LRN stock traded up $0.45 during mid-day trading on Thursday, reaching $156.33. The company's stock had a trading volume of 75,623 shares, compared to its average volume of 837,246. The company's 50 day simple moving average is $138.58 and its 200-day simple moving average is $124.18. The firm has a market capitalization of $6.80 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.04 and a beta of 0.36. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. 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 (NYSE:LRN - Get Free Report) last posted its 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 company had revenue of $613.38 million during the quarter, compared to analyst estimates of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. Stride's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. On average, research analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Barrington Research lifted 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. Canaccord Genuity Group boosted their price target on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, William Blair restated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Stride has a consensus rating of "Moderate Buy" and a consensus 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.