JB Capital Partners LP Buys New Position in Stride, Inc. $LRN

JB Capital Partners LP bought a new stake in shares of Stride, Inc. (NYSE:LRN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $1,299,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GW&K Investment Management LLC purchased a new stake in Stride in the third quarter worth $17,277,000. Divisadero Street Capital Management LP purchased a new stake in Stride in the third quarter worth $55,852,000. William Blair Investment Management LLC grew its stake in Stride by 37.2% in the third quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock worth $225,060,000 after purchasing an additional 410,029 shares during the period. Cat Rock Capital Management LP grew its stake in Stride by 22.8% in the third quarter. Cat Rock Capital Management LP now owns 203,614 shares of the company’s stock worth $30,326,000 after purchasing an additional 37,761 shares during the period. Finally, Vanguard Group Inc. grew its stake in Stride by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock worth $317,090,000 after purchasing an additional 340,838 shares during the period. Institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LRN shares. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Stride in a research note on Thursday, April 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $109.75.

Stride Price Performance

Shares of LRN stock opened at $97.11 on Friday. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.61 and a beta of 0.10. The business’s fifty day moving average is $93.47 and its 200 day moving average is $82.00. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29.

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