Invesco Ltd. Grows Stock Holdings in Stride, Inc. $LRN

Invesco Ltd. lifted its holdings in Stride, Inc. (NYSE:LRN) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,782,020 shares of the company’s stock after acquiring an additional 165,775 shares during the quarter. Invesco Ltd. owned 4.08% of Stride worth $258,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harbour Investments Inc. lifted its position in Stride by 374.6% during the first quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock valued at $43,000 after purchasing an additional 266 shares during the period. US Bancorp DE grew its position in Stride by 306.6% during the 1st quarter. US Bancorp DE now owns 6,733 shares of the company’s stock worth $852,000 after purchasing an additional 5,077 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Stride by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,111 shares of the company’s stock valued at $900,000 after buying an additional 164 shares during the last quarter. Deutsche Bank AG raised its stake 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 during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Stride by 4.6% in the 1st quarter. Swiss National Bank now owns 84,500 shares of the company’s stock valued at $10,689,000 after buying an additional 3,700 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Up 2.6%

LRN opened at $62.61 on Friday. 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 6.69, a current ratio of 6.78 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $101.45 and a 200 day moving average price of $130.84. The company has a market cap of $2.75 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.37 and a beta of 0.03.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.29. Stride had a return on equity of 26.29% and a net margin of 12.76%.The company had revenue of $620.88 million for the quarter, compared to analysts’ expectations of $615.50 million. During the same period in the previous year, the firm posted $0.94 EPS. Stride’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LRN has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stride in a report on Monday, December 1st. Canaccord Genuity Group boosted their price target on Stride from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, October 24th. Wall Street Zen lowered Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. BMO Capital Markets set a $108.00 price objective on shares of Stride and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. Finally, Zacks Research cut shares of Stride from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $141.75.

Stride Company 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.