Empirical Asset Management LLC Acquires Shares of 6,004 Stride, Inc. $LRN

Empirical Asset Management LLC acquired a new position in shares of Stride, Inc. (NYSE:LRN) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,004 shares of the company’s stock, valued at approximately $894,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRN. Norges Bank acquired a new stake in Stride in the second quarter valued at $92,858,000. Squarepoint Ops LLC increased its holdings in shares of Stride by 88.6% in the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock valued at $157,804,000 after acquiring an additional 510,641 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Stride by 75.2% during the 2nd quarter. Franklin Resources Inc. now owns 426,153 shares of the company’s stock worth $61,873,000 after acquiring an additional 182,920 shares in the last quarter. 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, Westfield Capital Management Co. LP acquired a new position in Stride in the second quarter valued at approximately $18,389,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on LRN shares. Morgan Stanley cut their price objective 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. Zacks Research lowered shares of Stride from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Wall Street Zen downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of Stride in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stride currently has a consensus rating of “Hold” and an average target price of $109.75.

Stride Trading Up 1.8%

NYSE LRN opened at $84.36 on Thursday. The firm’s fifty day moving average is $75.23 and its two-hundred day moving average is $103.69. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.19 and a current ratio of 7.27. The firm has a market cap of $3.59 billion, a PE ratio of 12.84, a P/E/G ratio of 0.50 and a beta of 0.10.

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.