Convergence Investment Partners LLC Takes Position in Stride, Inc. $LRN

Convergence Investment Partners LLC purchased a new stake in shares of Stride, Inc. (NYSE:LRN) in the second quarter, HoldingsChannel reports. The institutional investor purchased 5,956 shares of the company’s stock, valued at approximately $865,000.

A number of other large investors also recently modified their holdings of the company. Swedbank AB raised its holdings in shares of Stride by 5.4% during the 1st quarter. Swedbank AB now owns 1,009,726 shares of the company’s stock valued at $127,730,000 after buying an additional 52,000 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Stride by 10.4% during the 1st quarter. Deutsche Bank AG now owns 617,894 shares of the company’s stock valued at $78,164,000 after buying an additional 58,029 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Stride by 12.3% during the 1st quarter. Driehaus Capital Management LLC now owns 613,820 shares of the company’s stock valued at $77,648,000 after buying an additional 67,184 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Stride by 1.3% during the 1st quarter. Northern Trust Corp now owns 467,774 shares of the company’s stock valued at $59,173,000 after buying an additional 5,820 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Stride during the 1st quarter valued at about $38,835,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Price Performance

LRN opened at $152.68 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. Stride, Inc. has a 52-week low of $89.11 and a 52-week high of $171.17. The stock has a market capitalization of $6.66 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 0.86 and a beta of 0.07. The stock’s 50 day moving average price is $152.32 and its 200-day moving average price is $146.59.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The firm 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 earnings per share. The business’s revenue was up 22.4% compared to the same quarter last year. On average, equities research analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Insider Activity

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Morgan Stanley lifted their price target on Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Stride in a research report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and issued a $185.00 price objective on shares of Stride in a research report on Tuesday, September 23rd. Finally, Canaccord Genuity Group boosted their price objective on Stride from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

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.