Mirae Asset Global Investments Co. Ltd. Makes New $245,000 Investment in Stride, Inc. $LRN

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Stride, Inc. (NYSE:LRN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,686 shares of the company’s stock, valued at approximately $245,000.

A number of other institutional investors also recently bought and sold shares of the business. Rezny Wealth Management Inc. raised its position in Stride by 0.6% during the 2nd quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company’s stock worth $2,055,000 after buying an additional 83 shares during the last quarter. Vident Advisory LLC raised its position in Stride by 2.9% during the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company’s stock worth $372,000 after buying an additional 84 shares during the last quarter. Vestcor Inc raised its position in Stride by 4.6% during the 1st quarter. Vestcor Inc now owns 2,328 shares of the company’s stock worth $294,000 after buying an additional 102 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after buying an additional 131 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock worth $34,000 after buying an additional 156 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer owned 706,353 shares of the company’s stock, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Stride Price Performance

Shares of NYSE LRN opened at $144.62 on Friday. The firm has a market cap of $6.31 billion, a PE ratio of 24.02, a PEG ratio of 0.82 and a beta of 0.07. The firm has a fifty day moving average of $152.65 and a 200 day moving average of $144.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. Stride, Inc. has a one year low of $63.25 and a one year high of $171.17.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS. As a group, research analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Barrington Research reaffirmed an “outperform” rating and set a $185.00 target price on shares of Stride in a report on Tuesday, September 23rd. Morgan Stanley lifted their target price on shares of Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Stride in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $146.40.

Stride Profile

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.