MGO One Seven LLC Invests $570,000 in Stride, Inc. $LRN

MGO One Seven LLC purchased a new position in shares of Stride, Inc. (NYSE:LRN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,926 shares of the company’s stock, valued at approximately $570,000.

Other institutional investors and hedge funds 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 worth $26,000 after purchasing an additional 160 shares during the period. First Horizon Advisors Inc. grew its stake in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after acquiring an additional 156 shares during the last quarter. Harbour Investments Inc. grew its stake in Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock valued at $43,000 after acquiring an additional 266 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Stride in the 1st quarter valued at about $43,000. Finally, Geneos Wealth Management Inc. grew its stake in Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after acquiring an additional 131 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the sale, the chief executive officer directly owned 706,353 shares of the company’s stock, valued at $114,895,378.98. This trade represents 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. 3.00% of the stock is owned by corporate insiders.

Stride Price Performance

Stride stock opened at $145.00 on Friday. Stride, Inc. has a 12-month low of $63.36 and a 12-month high of $171.17. The stock has a market capitalization of $6.33 billion, a P/E ratio of 24.09, a P/E/G ratio of 0.80 and a beta of 0.07. The firm’s 50-day moving average is $153.11 and its two-hundred day moving average is $145.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on LRN. Morgan Stanley increased their price objective on shares of Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Barrington Research reissued an “outperform” rating and issued a $185.00 price objective on shares of Stride in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Stride in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.