Lazard Asset Management LLC Increases Stock Position in Stride, Inc. (NYSE:LRN)

Lazard Asset Management LLC increased its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,356 shares of the company's stock after purchasing an additional 4,552 shares during the quarter. Lazard Asset Management LLC owned 0.09% of Stride worth $4,089,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd acquired a new position in Stride in the 4th quarter valued at about $37,000. CIBC Private Wealth Group LLC grew its position in Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after acquiring an additional 178 shares in the last quarter. Covestor Ltd grew its position in Stride by 51.6% in the 4th quarter. Covestor Ltd now owns 632 shares of the company's stock valued at $66,000 after acquiring an additional 215 shares in the last quarter. Gen Wealth Partners Inc acquired a new position in Stride in the 4th quarter valued at about $75,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Stride in the 4th quarter valued at about $77,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Down 0.5%

LRN traded down $0.74 on Wednesday, reaching $156.73. The company's stock had a trading volume of 108,640 shares, compared to its average volume of 838,989. The stock has a 50 day moving average of $137.88 and a two-hundred day moving average of $123.96. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.04 and a beta of 0.36. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $162.32.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly 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 business 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%. The business's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the company earned $1.60 earnings per share. As a group, analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Stride

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.