Louisiana State Employees Retirement System Makes New Investment in Stride, Inc. (NYSE:LRN)

Louisiana State Employees Retirement System acquired a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,900 shares of the company's stock, valued at approximately $1,181,000.

Several other large investors have also made changes to their positions in the business. Simplicity Solutions LLC purchased a new stake in shares of Stride in the 4th quarter valued at $314,000. Koshinski Asset Management Inc. purchased a new stake in Stride during the fourth quarter worth $280,000. Allspring Global Investments Holdings LLC boosted its holdings in Stride by 148.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 27,731 shares of the company's stock worth $1,646,000 after buying an additional 16,579 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Stride by 5,837.0% during the fourth quarter. International Assets Investment Management LLC now owns 13,655 shares of the company's stock worth $811,000 after buying an additional 13,425 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in Stride during the fourth quarter worth $314,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRN. Barrington Research reissued an "outperform" rating and set a $75.00 price target on shares of Stride in a report on Wednesday, April 17th. Citigroup increased their price target on shares of Stride from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, January 29th. Morgan Stanley upped their price objective on shares of Stride from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 24th. StockNews.com upgraded shares of Stride from a "hold" rating to a "buy" rating in a research report on Tuesday, April 2nd. Finally, Wedbush restated an "outperform" rating on shares of Stride in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Stride presently has an average rating of "Moderate Buy" and an average target price of $71.75.

Stride Price Performance

NYSE:LRN traded up $0.10 during trading hours on Tuesday, reaching $58.20. 1,068,514 shares of the company were exchanged, compared to its average volume of 757,870. The stock's 50-day moving average is $60.31 and its 200-day moving average is $58.16. The firm has a market cap of $2.52 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.66 and a beta of 0.26. The company has a current ratio of 4.52, a quick ratio of 4.44 and a debt-to-equity ratio of 0.43. Stride, Inc. has a twelve month low of $35.61 and a twelve month high of $69.70.

Stride (NYSE:LRN - Get Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.23. The business had revenue of $504.87 million during the quarter, compared to analysts' expectations of $498.05 million. Stride had a net margin of 8.80% and a return on equity of 17.77%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 earnings per share. On average, sell-side analysts anticipate that Stride, Inc. will post 4.31 earnings per share for the current fiscal year.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.