Peterson Wealth Services Takes $2 Million Position in Stride, Inc. $LRN

Peterson Wealth Services purchased a new position in Stride, Inc. (NYSE:LRN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,445 shares of the company’s stock, valued at approximately $2,002,000.

Several other hedge funds also recently bought and sold shares of LRN. Asset Management One Co. Ltd. raised its position in shares of Stride by 33.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 43,033 shares of the company’s stock valued at $6,248,000 after buying an additional 10,870 shares in the last quarter. SG Capital Management LLC bought a new position in Stride in the second quarter valued at $5,859,000. Y Intercept Hong Kong Ltd purchased a new stake in Stride during the third quarter valued at about $3,391,000. Invesco Ltd. lifted its stake in Stride by 10.3% during the second quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock worth $258,731,000 after purchasing an additional 165,775 shares during the last quarter. Finally, Norges Bank bought a new stake in Stride during the second quarter worth about $92,858,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Wall Street Analyst Weigh In

LRN has been the topic of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $125.00 price objective on shares of Stride in a research report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. BMO Capital Markets restated a “market perform” rating and issued a $94.00 price objective on shares of Stride in a report on Wednesday, January 28th. Morgan Stanley reduced their target price on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Finally, Barrington Research reiterated an “outperform” rating and issued a $125.00 target price on shares of Stride in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $109.75.

Stride Price Performance

Shares of Stride stock opened at $86.44 on Tuesday. The company’s fifty day simple moving average is $67.84 and its two-hundred day simple moving average is $109.25. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17. The firm has a market cap of $3.68 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.51 and a beta of 0.10. The company has a quick ratio of 7.19, a current ratio of 7.27 and a debt-to-equity ratio of 0.31.

Stride Profile

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.