CenterBook Partners LP increased its stake in Stride, Inc. (NYSE:LRN – Free Report) by 339.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,618 shares of the company’s stock after purchasing an additional 59,960 shares during the period. CenterBook Partners LP owned 0.18% of Stride worth $6,053,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of LRN. Janus Henderson Group PLC raised its holdings in shares of Stride by 61.0% in the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after buying an additional 862,849 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of Stride in the 2nd quarter valued at $199,715,000. Dimensional Fund Advisors LP increased its position in shares of Stride by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company’s stock valued at $154,339,000 after acquiring an additional 90,851 shares during the period. Principal Financial Group Inc. increased its position in shares of Stride by 40.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,034,047 shares of the company’s stock valued at $91,172,000 after acquiring an additional 299,756 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in Stride in the 2nd quarter worth $71,036,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on LRN. Weiss Ratings raised Stride from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. BMO Capital Markets cut their price objective on Stride from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Monday, October 5th. Zacks Research upgraded Stride from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Barrington Research reduced their price objective on Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Finally, Wall Street Zen raised Stride from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.25.
Get Our Latest Stock Report on LRN
Insider Activity
In related news, Director Dylan G. Haggart bought 137,500 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average cost of $77.12 per share, with a total value of $10,604,000.00. Following the completion of the acquisition, the director directly owned 2,091,403 shares in the company, valued at approximately $161,288,999.36. The trade was a 7.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian A. Shepherd purchased 12,000 shares of Stride stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average price of $76.69 per share, with a total value of $920,280.00. Following the completion of the transaction, the director owned 13,094 shares of the company’s stock, valued at $1,004,178.86. This represents a 1,096.89% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 405,045 shares of company stock valued at $31,483,496. Insiders own 3.00% of the company’s stock.
Stride Stock Performance
Shares of Stride stock traded up $0.22 during trading on Friday, hitting $75.09. 1,427,519 shares of the company’s stock were exchanged, compared to its average volume of 943,955. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.53 and a current ratio of 2.56. The business has a 50-day simple moving average of $80.56 and a 200-day simple moving average of $85.91. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $103.67. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.42 and a beta of 0.16.
Stride (NYSE:LRN – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.07 by $0.30. The company had revenue of $639.38 million for the quarter, compared to analyst estimates of $612.25 million. Stride had a net margin of 13.18% and a return on equity of 22.06%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 earnings per share. On average, research analysts forecast that Stride, Inc. will post 9.04 EPS for the current year.
About Stride
Stride, Inc is an education technology company that provides online and blended learning programs for K-12 students. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instructional software, teaching support and student services. Its offerings are designed to support full-time virtual schools, supplemental courses and traditional schools incorporating online learning.
Stride also provides career-focused education through programs that combine academic instruction with career exploration, technical training and industry-aligned learning opportunities.
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