Stride, Inc. (NYSE:LRN) Shares Acquired by Breach Inlet Capital Management LLC

Breach Inlet Capital Management LLC increased its position in shares of Stride, Inc. (NYSE:LRN) by 32.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,934 shares of the company’s stock after acquiring an additional 21,433 shares during the period. Stride makes up about 6.4% of Breach Inlet Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Breach Inlet Capital Management LLC owned approximately 0.20% of Stride worth $9,035,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Stride by 1.6% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 20,278 shares of the company’s stock worth $2,107,000 after purchasing an additional 310 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Stride in the 4th quarter worth about $416,000. Integrated Quantitative Investments LLC acquired a new stake in Stride during the 4th quarter worth about $1,354,000. ExodusPoint Capital Management LP purchased a new stake in Stride during the fourth quarter valued at about $5,670,000. Finally, Bryce Point Capital LLC acquired a new position in shares of Stride in the fourth quarter worth about $540,000. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Performance

LRN stock opened at $125.57 on Friday. The firm has a 50 day moving average of $131.27 and a two-hundred day moving average of $109.09. Stride, Inc. has a 12 month low of $56.17 and a 12 month high of $145.00. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.04 and a beta of 0.46. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. As a group, equities analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the topic of several recent analyst reports. Canaccord Genuity Group upped their price target on Stride from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Barrington Research reiterated an “outperform” rating and issued a $140.00 target price on shares of Stride in a report on Friday, March 14th. Morgan Stanley raised their price target on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets boosted their price objective on shares of Stride from $134.00 to $139.00 and gave the company an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Stride has an average rating of “Moderate Buy” and a consensus price target of $120.17.

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.