Louisiana State Employees Retirement System Acquires Shares of 18,600 Stride, Inc. $LRN

Louisiana State Employees Retirement System acquired a new stake in Stride, Inc. (NYSE:LRN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,600 shares of the company’s stock, valued at approximately $1,640,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in Stride by 67.3% during the 1st quarter. AQR Capital Management LLC now owns 28,547 shares of the company’s stock valued at $3,611,000 after purchasing an additional 11,481 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Stride by 80.9% during the 1st quarter. NewEdge Advisors LLC now owns 5,124 shares of the company’s stock worth $648,000 after buying an additional 2,291 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Stride by 12.4% during the 1st quarter. Empowered Funds LLC now owns 18,202 shares of the company’s stock worth $2,303,000 after buying an additional 2,008 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Stride by 31.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company’s stock worth $17,009,000 after buying an additional 32,470 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Stride by 62.7% during the 1st 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 institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. BMO Capital Markets restated a “market perform” rating on shares of Stride in a report on Monday, June 15th. William Blair reaffirmed an “outperform” rating on shares of Stride in a research report on Monday, June 15th. Finally, Barrington Research reiterated an “outperform” rating and set a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $109.75.

Stride Trading Up 3.0%

Shares of LRN stock opened at $88.86 on Thursday. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $171.17. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.53 and a beta of 0.10. The stock has a 50-day moving average of $91.49 and a 200-day moving average of $84.17.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, beating 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 business 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 business posted $2.02 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that Stride, Inc. will post 8.21 earnings per share for the current 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.