Graham Capital Management L.P. Invests $341,000 in Stride, Inc. (NYSE:LRN)

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

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in Stride by 293.1% in the 4th quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock valued at $90,024,000 after purchasing an additional 645,835 shares in the last quarter. Norges Bank purchased a new stake in shares of Stride in the fourth quarter valued at approximately $45,306,000. Arrowstreet Capital Limited Partnership grew its holdings in Stride by 783.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company's stock worth $47,095,000 after acquiring an additional 401,838 shares during the period. William Blair Investment Management LLC grew its holdings in Stride by 18.0% during the fourth quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock worth $256,397,000 after acquiring an additional 375,686 shares during the period. Finally, Cat Rock Capital Management LP purchased a new position in Stride in the fourth quarter worth $36,694,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on LRN. Barrington Research boosted their target price on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Canaccord Genuity Group increased their target price on shares of Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. Finally, William Blair reissued an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Stride presently has a consensus rating of "Moderate Buy" and an average target price of $126.83.

Stride Price Performance

Shares of NYSE LRN traded down $0.98 on Wednesday, hitting $156.48. The company's stock had a trading volume of 326,787 shares, compared to its average volume of 840,018. The stock has a 50 day moving average of $137.88 and a 200-day moving average of $123.96. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 26.12, 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 $162.32. 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 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 analysts' expectations 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 period in the previous year, the company posted $1.60 EPS. As a group, research analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Stride 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.