Hsbc Holdings PLC Has $4.31 Million Stock Position in Stride, Inc. $LRN

Hsbc Holdings PLC boosted its holdings in Stride, Inc. (NYSE:LRN) by 3,811.3% in the fourth quarter, HoldingsChannel reports. The firm owned 66,062 shares of the company’s stock after purchasing an additional 64,373 shares during the period. Hsbc Holdings PLC’s holdings in Stride were worth $4,309,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new stake in shares of Stride during the 2nd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after acquiring an additional 85 shares during the period. Leonteq Securities AG acquired a new position in shares of Stride during the 4th quarter valued at $35,000. Caitong International Asset Management Co. Ltd boosted its stake in Stride by 482.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after acquiring an additional 131 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LRN has been the subject of a number of research reports. William Blair restated an “outperform” rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research report on Friday, April 10th. Barrington Research restated an “outperform” rating and issued a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Stride in a research note on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Stride has an average rating of “Hold” and a consensus target price of $109.75.

Stride Price Performance

Shares of NYSE LRN opened at $87.30 on Friday. The company has a market capitalization of $3.71 billion, a PE ratio of 13.47, a PEG ratio of 0.53 and a beta of 0.10. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $92.15 and its 200-day moving average price is $83.50. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. The company had revenue of $629.87 million during the quarter, compared to the consensus estimate of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.Stride’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $2.02 earnings per share. On average, equities analysts anticipate that Stride, Inc. will post 8.21 EPS for the current year.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.