Bleakley Financial Group LLC Takes Position in Stride, Inc. (NYSE:LRN)

Bleakley Financial Group LLC purchased a new stake in Stride, Inc. (NYSE:LRN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 5,284 shares of the company’s stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors have also modified their holdings of LRN. Vanguard Group Inc. boosted its stake in Stride by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,969,506 shares of the company’s stock valued at $223,777,000 after purchasing an additional 28,661 shares during the period. Envestnet Asset Management Inc. boosted its stake in Stride by 89.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 118,047 shares of the company’s stock valued at $5,316,000 after purchasing an additional 55,641 shares during the period. Weil Company Inc. boosted its stake in Stride by 38.1% during the 3rd quarter. Weil Company Inc. now owns 48,315 shares of the company’s stock valued at $2,176,000 after purchasing an additional 13,324 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Stride by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 531,030 shares of the company’s stock valued at $23,912,000 after purchasing an additional 8,754 shares during the period. Finally, Teza Capital Management LLC acquired a new position in Stride during the 3rd quarter valued at about $221,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of Stride from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley boosted their target price on shares of Stride from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Wedbush reiterated an “outperform” rating on shares of Stride in a report on Wednesday, January 24th. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Finally, Barrington Research increased their price objective on shares of Stride from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stride currently has an average rating of “Moderate Buy” and a consensus price target of $71.75.

Stride Trading Down 1.5 %

Stride stock opened at $59.13 on Monday. The firm has a 50 day simple moving average of $60.61 and a 200-day simple moving average of $57.63. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.52 and a quick ratio of 4.44. The stock has a market capitalization of $2.56 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 0.69 and a beta of 0.26. Stride, Inc. has a 12-month low of $35.61 and a 12-month high of $69.70.

Stride (NYSE:LRN) last released its earnings results on Tuesday, January 23rd. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.31 by $0.23. Stride had a net margin of 8.80% and a return on equity of 17.77%. The business had revenue of $504.87 million during the quarter, compared to analyst estimates of $498.05 million. During the same period in the prior year, the business earned $1.19 earnings per share. The business’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Stride, Inc. will post 4.31 EPS 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.