Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Stride, Inc. $LRN

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Stride, Inc. (NYSE:LRN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 367,100 shares of the company’s stock, valued at approximately $23,836,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.86% of Stride at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in Stride during the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. increased 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 purchasing an additional 85 shares during the period. Leonteq Securities AG purchased a new stake in Stride during the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd increased its stake in Stride by 482.1% during 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 shares of Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after buying an additional 131 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Down 14.3%

LRN stock opened at $83.70 on Tuesday. The company’s 50 day moving average price is $93.36 and its 200 day moving average price is $82.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $171.17. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.60 and a beta of 0.10.

Stride (NYSE:LRN) last released its earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, topping 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 in the prior year, the firm earned $2.02 earnings per share. On average, equities research analysts anticipate that Stride, Inc. will post 8.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LRN. Barrington Research restated an “outperform” rating and set a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. William Blair restated an “outperform” rating on shares of Stride in a research note on Monday. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research note on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.