OMERS ADMINISTRATION Corp Buys New Shares in Stride, Inc. $LRN

OMERS ADMINISTRATION Corp bought a new position in shares of Stride, Inc. (NYSE:LRN) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,403 shares of the company’s stock, valued at approximately $725,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Stride in the 4th quarter worth approximately $72,871,000. Janus Henderson Group PLC grew its holdings in shares of Stride by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after purchasing an additional 862,849 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Stride during the second quarter valued at approximately $71,036,000. Morgan Stanley increased its position in shares of Stride by 98.1% during the fourth quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock valued at $105,938,000 after purchasing an additional 808,141 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of Stride in the second quarter valued at $63,624,000. 98.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on LRN. Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a research note 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $109.75.

Stride Stock Performance

NYSE:LRN opened at $85.29 on Friday. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $169.08. The firm has a 50 day moving average of $85.71 and a 200-day moving average of $88.35. The company has a current ratio of 5.94, a quick ratio of 5.81 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.54 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 0.49 and a beta of 0.11.

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