Stride, Inc. (NYSE:LRN) Holdings Boosted by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Stride, Inc. (NYSE:LRN) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,468 shares of the company’s stock after purchasing an additional 407 shares during the quarter. GAMMA Investing LLC’s holdings in Stride were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LRN. Sanctuary Advisors LLC acquired a new position in Stride during the 2nd quarter valued at about $534,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Stride during the third quarter worth approximately $430,000. International Assets Investment Management LLC grew its holdings in Stride by 8,431.7% in the 3rd quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock worth $437,000 after buying an additional 5,059 shares in the last quarter. Quest Partners LLC increased its position in Stride by 20,248.8% in the 3rd quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock valued at $712,000 after acquiring an additional 8,302 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Stride by 24.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after acquiring an additional 7,100 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LRN shares. Canaccord Genuity Group increased their price target on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Barrington Research raised their price objective on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets increased their price target on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.50.

Stride Price Performance

NYSE LRN opened at $107.54 on Wednesday. The stock has a market capitalization of $4.69 billion, a P/E ratio of 19.55, a P/E/G ratio of 0.80 and a beta of 0.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The business’s fifty day moving average is $104.13 and its two-hundred day moving average is $86.46. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $112.80.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. Stride’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. On average, research analysts forecast that Stride, Inc. will post 6.64 earnings per share for the current fiscal year.

About Stride

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.