Mackenzie Financial Corp Makes New $505,000 Investment in Stride, Inc. (NYSE:LRN)

Mackenzie Financial Corp acquired a new stake in Stride, Inc. (NYSE:LRN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,506 shares of the company’s stock, valued at approximately $505,000.

Several other institutional investors also recently bought and sold shares of LRN. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Stride during the 4th quarter valued at about $29,000. McIlrath & Eck LLC purchased a new stake in shares of Stride in the third quarter worth about $31,000. Strs Ohio purchased a new position in Stride in the 4th quarter valued at about $47,000. Nisa Investment Advisors LLC increased its position in shares of Stride by 156.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,310 shares of the company’s stock worth $78,000 after acquiring an additional 800 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Stride by 20.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 3,142 shares of the company’s stock worth $141,000 after acquiring an additional 534 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Price Performance

NYSE LRN opened at $67.08 on Friday. The company has a market cap of $2.91 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.70 and a beta of 0.26. The company has a fifty day simple moving average of $60.45 and a 200 day simple moving average of $58.34. The company has a current ratio of 4.29, a quick ratio of 4.44 and a debt-to-equity ratio of 0.40. Stride, Inc. has a 1 year low of $35.61 and a 1 year high of $69.70.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.13. Stride had a return on equity of 18.29% and a net margin of 9.29%. The company had revenue of $520.84 million for the quarter, compared to analyst estimates of $507.89 million. During the same quarter last year, the firm earned $1.30 EPS. Stride’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Stride, Inc. will post 4.52 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on LRN. Wedbush restated an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. Morgan Stanley raised their price objective on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Barrington Research reiterated an “outperform” rating and issued a $75.00 price target on shares of Stride in a report on Wednesday. Citigroup increased their price objective on shares of Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Stride Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.