WCM Investment Management LLC Takes $20.85 Million Position in Stride, Inc. (NYSE:LRN)

WCM Investment Management LLC bought a new stake in Stride, Inc. (NYSE:LRN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 197,709 shares of the company’s stock, valued at approximately $20,850,000. WCM Investment Management LLC owned about 0.45% of Stride at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Stride during the 2nd quarter worth about $534,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Stride in the 3rd quarter valued at $430,000. International Assets Investment Management LLC raised its stake in Stride by 8,431.7% during the 3rd quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock worth $437,000 after acquiring an additional 5,059 shares in the last quarter. Quest Partners LLC lifted its position in Stride by 20,248.8% in the third quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock valued at $712,000 after acquiring an additional 8,302 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Stride by 24.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock worth $3,071,000 after purchasing an additional 7,100 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

NYSE LRN opened at $142.45 on Friday. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.04 and a beta of 0.32. The business’s 50 day moving average is $113.74 and its two-hundred day moving average is $94.82. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $145.00. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN) last released its earnings results on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. Research analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Canaccord Genuity Group boosted their target price on Stride from $100.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barrington Research upped their price target on shares of Stride from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley raised their price objective on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Citigroup increased their target price on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets upped their price objective on Stride from $122.00 to $134.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.83.

About Stride

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.