Louisiana State Employees Retirement System Takes $1.64 Million Position in Stride, Inc. $LRN

Louisiana State Employees Retirement System bought a new stake in shares of Stride, Inc. (NYSE:LRN) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 18,600 shares of the company’s stock, valued at approximately $1,640,000.

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

Stride Stock Performance

LRN opened at $88.86 on Thursday. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average price is $91.49 and its two-hundred day moving average price is $84.17. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $171.17. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.53 and a beta of 0.10.

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

Analyst Upgrades and Downgrades

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

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.