Healthcare of Ontario Pension Plan Trust Fund Purchases New Position in Stride, Inc. $LRN

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Stride, Inc. (NYSE:LRN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 367,100 shares of the company’s stock, valued at approximately $23,836,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LRN. Norges Bank acquired a new position in Stride in the fourth quarter valued at approximately $72,871,000. Morgan Stanley boosted its holdings in shares of Stride by 98.1% in the fourth quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock valued at $105,938,000 after acquiring an additional 808,141 shares during the period. Barclays PLC boosted its holdings in shares of Stride by 254.8% in the fourth quarter. Barclays PLC now owns 688,214 shares of the company’s stock valued at $44,686,000 after acquiring an additional 494,215 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Stride by 682.1% in the fourth quarter. Victory Capital Management Inc. now owns 562,346 shares of the company’s stock valued at $36,513,000 after acquiring an additional 490,445 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Stride by 325.0% in the fourth quarter. SG Americas Securities LLC now owns 556,452 shares of the company’s stock valued at $36,130,000 after acquiring an additional 425,524 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Price Performance

LRN stock opened at $83.70 on Tuesday. The company has a market capitalization of $3.56 billion, a P/E ratio of 12.92, a PEG ratio of 0.60 and a beta of 0.10. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17. The business has a 50 day simple moving average of $93.36 and a 200-day simple moving average of $82.28. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $629.69 million. During the same period last year, the company earned $2.02 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Stride, Inc. will post 8.21 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on LRN. William Blair reissued an “outperform” rating on shares of Stride in a report on Monday. Barrington Research reissued an “outperform” rating and issued a $125.00 price objective on shares of Stride in a report on Thursday, April 16th. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.75.

Stride Company Profile

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.