Quest Partners LLC Raises Stake in Stride, Inc. (NYSE:LRN)

Quest Partners LLC increased its stake in shares of Stride, Inc. (NYSE:LRN) by 20,248.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,343 shares of the company’s stock after buying an additional 8,302 shares during the period. Quest Partners LLC’s holdings in Stride were worth $712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in shares of Stride during the 1st quarter worth approximately $77,000. nVerses Capital LLC bought a new position in Stride during the second quarter valued at $78,000. Mendota Financial Group LLC purchased a new stake in Stride in the third quarter worth $86,000. Advisors Asset Management Inc. increased its position in Stride by 38.0% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $173,000 after buying an additional 754 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Stride by 45.3% in the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after buying an additional 643 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the transaction, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. The trade was a 8.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

LRN has been the subject of several research reports. Citigroup increased their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Canaccord Genuity Group initiated coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. BMO Capital Markets boosted their price target on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group boosted their target price on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Stride presently has an average rating of “Moderate Buy” and an average target price of $90.17.

Stride Stock Performance

Stride stock opened at $103.35 on Friday. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $104.68. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.50 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 0.76 and a beta of 0.27. The firm’s 50 day simple moving average is $85.87 and its 200 day simple moving average is $77.59.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.72. The firm had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts expect that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.