Y Intercept Hong Kong Ltd Invests $3.39 Million in Stride, Inc. $LRN

Y Intercept Hong Kong Ltd purchased a new position in Stride, Inc. (NYSE:LRN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,766 shares of the company’s stock, valued at approximately $3,391,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in shares of Stride by 37.5% during the second quarter. Golden State Wealth Management LLC now owns 275 shares of the company’s stock worth $40,000 after acquiring an additional 75 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after buying an additional 85 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Stride by 3.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,173 shares of the company’s stock valued at $461,000 after purchasing an additional 94 shares in the last quarter. Trail Ridge Investment Advisors LLC boosted its stake in shares of Stride by 1.8% during the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 5,454 shares of the company’s stock worth $812,000 after acquiring an additional 96 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. raised its stake in shares of Stride by 0.4% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 24,272 shares of the company’s stock worth $3,615,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

LRN has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Barrington Research reaffirmed an “outperform” rating and set a $125.00 target price on shares of Stride in a research note on Wednesday, January 21st. Zacks Research lowered shares of Stride from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. BMO Capital Markets set a $108.00 target price on Stride and gave the company a “market perform” rating in a report on Wednesday, October 29th. Finally, Canaccord Genuity Group boosted their price target on shares of Stride from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $125.75.

Stride Price Performance

Stride stock opened at $71.20 on Tuesday. The business has a fifty day moving average of $66.12 and a two-hundred day moving average of $111.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 6.69 and a current ratio of 6.78. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17. The company has a market cap of $3.12 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.44 and a beta of 0.06.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, October 28th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.29. The firm had revenue of $620.88 million for the quarter, compared to analyst estimates of $615.50 million. Stride had a return on equity of 26.29% and a net margin of 12.76%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. As a group, analysts predict that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.