PDT Partners LLC Purchases 25,641 Shares of Stride, Inc. $LRN

PDT Partners LLC raised its position in shares of Stride, Inc. (NYSE:LRN) by 69.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,525 shares of the company’s stock after purchasing an additional 25,641 shares during the quarter. Stride accounts for approximately 0.6% of PDT Partners LLC’s holdings, making the stock its 14th biggest position. PDT Partners LLC owned about 0.14% of Stride worth $7,909,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after purchasing an additional 160 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after purchasing an additional 156 shares during the period. Harbour Investments Inc. grew its stake in shares of Stride by 374.6% during the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock valued at $43,000 after purchasing an additional 266 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Stride during the 1st quarter valued at about $43,000. Finally, Fifth Third Bancorp grew its stake in shares of Stride by 158.8% during the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company’s stock valued at $48,000 after purchasing an additional 235 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Down 1.6%

NYSE LRN opened at $163.03 on Monday. The stock’s 50 day moving average is $144.16 and its 200 day moving average is $140.95. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17. The stock has a market cap of $7.11 billion, a PE ratio of 27.08, a P/E/G ratio of 0.95 and a beta of 0.22.

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

Insider Buying and Selling

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Stride from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Barrington Research boosted their price objective on Stride from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Morgan Stanley boosted their price objective on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $146.40.

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.