18,777 Shares in Stride, Inc. $LRN Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new position in Stride, Inc. (NYSE:LRN) in the 2nd quarter, HoldingsChannel reports. The fund acquired 18,777 shares of the company’s stock, valued at approximately $1,619,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRN. Newbridge Financial Services Group Inc. bought a new stake in shares of Stride during the 2nd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. grew its position in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after acquiring an additional 85 shares during the last quarter. Leonteq Securities AG bought a new position in Stride in the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC increased its stake in Stride by 108.7% in the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock worth $38,000 after purchasing an additional 225 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in Stride by 482.1% in 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. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Up 0.9%

NYSE:LRN opened at $85.08 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.94 and a quick ratio of 5.81. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $171.17. The company has a 50-day moving average of $85.62 and a 200 day moving average of $88.38. The firm has a market cap of $3.54 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.49 and a beta of 0.11.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.48. Stride had a net margin of 13.43% and a return on equity of 23.49%. The business had revenue of $636.06 million for the quarter, compared to the consensus estimate of $626.52 million. During the same quarter last year, the firm posted $2.29 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts anticipate that Stride, Inc. will post 8.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LRN. William Blair lowered shares of Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a report on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $109.75.

Stride 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.