Daiwa Securities Group Inc. Buys 215 Shares of Stride, Inc. (NYSE:LRN)

Daiwa Securities Group Inc. lifted its stake in shares of Stride, Inc. (NYSE:LRN) by 13.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,760 shares of the company’s stock after purchasing an additional 215 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Stride were worth $104,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Stride during the 4th quarter valued at $29,000. McIlrath & Eck LLC purchased a new position in Stride during the third quarter worth about $31,000. Strs Ohio purchased a new position in Stride during the fourth quarter worth about $47,000. Nisa Investment Advisors LLC grew its position in Stride by 156.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,310 shares of the company’s stock worth $78,000 after buying an additional 800 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Stride by 20.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 3,142 shares of the company’s stock worth $141,000 after buying an additional 534 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LRN. Morgan Stanley boosted their target price on 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 cut Stride from a “buy” rating to a “hold” rating in a research report on Thursday. Wedbush restated an “outperform” rating on shares of Stride in a research report on Wednesday, January 24th. Citigroup upped their price objective on Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Barrington Research reiterated an “outperform” rating and issued a $75.00 price objective on shares of Stride in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Stride Price Performance

LRN opened at $67.08 on Friday. The stock has a 50-day moving average price of $60.65 and a 200-day moving average price of $58.49. Stride, Inc. has a 12-month low of $35.61 and a 12-month high of $69.70. The company has a current ratio of 4.29, a quick ratio of 4.44 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.90 billion, a P/E ratio of 15.75, a PEG ratio of 0.73 and a beta of 0.26.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.13. The firm had revenue of $520.84 million during the quarter, compared to analysts’ expectations of $507.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. Equities analysts predict that Stride, Inc. will post 4.55 earnings per share for the current fiscal year.

Stride Profile

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.