Rice Hall James & Associates LLC acquired a new position in shares of Stride, Inc. (NYSE:LRN – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 438,981 shares of the company’s stock, valued at approximately $37,858,000. Stride accounts for 1.8% of Rice Hall James & Associates LLC’s portfolio, making the stock its 11th largest position. Rice Hall James & Associates LLC owned about 1.03% of Stride as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in LRN. Newbridge Financial Services Group Inc. acquired a new position in Stride in the 2nd quarter worth $25,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after purchasing an additional 85 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after purchasing an additional 131 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Stride by 108.7% in the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock valued at $38,000 after purchasing an additional 225 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Stride in the third quarter valued at about $78,000. 98.24% of the stock is owned by institutional investors.
Analysts Set New Price Targets
LRN has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research report on Wednesday, July 8th. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research note on Monday, June 15th. Finally, William Blair cut Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.75.
Stride Stock Up 0.3%
Stride stock opened at $83.63 on Tuesday. The company has a current ratio of 5.94, a quick ratio of 5.81 and a debt-to-equity ratio of 0.29. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $171.17. The company has a fifty day simple moving average of $86.74 and a 200 day simple moving average of $88.40. The company has a market cap of $3.48 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 0.48 and a beta of 0.11.
Stride (NYSE:LRN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.64 by $0.48. Stride had a net margin of 13.43% and a return on equity of 23.49%. The firm had revenue of $636.06 million for the quarter, compared to analysts’ expectations of $626.52 million. During the same period in the previous year, the firm posted $2.29 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts anticipate that Stride, Inc. will post 8.62 earnings per share for the current fiscal year.
About Stride
Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.
In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.
See Also
- Five stocks we like better than Stride
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Receive News & Ratings for Stride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stride and related companies with MarketBeat.com's FREE daily email newsletter.
