Mountain Pacific Investment Advisers LLC Has $2.50 Million Stock Position in Stride, Inc. $LRN

Mountain Pacific Investment Advisers LLC cut its stake in Stride, Inc. (NYSE:LRN) by 54.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,802 shares of the company’s stock after selling 20,454 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Stride were worth $2,502,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LRN. Norges Bank acquired a new stake in shares of Stride during the second quarter worth $92,858,000. Squarepoint Ops LLC grew its holdings in Stride by 88.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock worth $157,804,000 after acquiring an additional 510,641 shares during the period. Franklin Resources Inc. raised its position in shares of Stride by 75.2% in the 2nd quarter. Franklin Resources Inc. now owns 426,153 shares of the company’s stock worth $61,873,000 after acquiring an additional 182,920 shares in the last quarter. Invesco Ltd. raised its position in shares of Stride by 10.3% in the 2nd quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock worth $258,731,000 after acquiring an additional 165,775 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Stride in the 2nd quarter valued at about $18,389,000. Institutional investors own 98.24% of the company’s stock.

Stride Price Performance

LRN stock opened at $71.58 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 6.69 and a current ratio of 6.78. The business has a 50-day simple moving average of $65.61 and a two-hundred day simple moving average of $112.60. The company has a market capitalization of $3.14 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 0.42 and a beta of 0.06. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $171.17.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, October 28th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.29. Stride had a return on equity of 26.29% and a net margin of 12.76%.The company had revenue of $620.88 million for the quarter, compared to analysts’ expectations of $615.50 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Stride’s quarterly revenue was up 12.7% on a year-over-year basis. Research analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on LRN shares. Barrington Research restated an “outperform” rating and set a $125.00 price target on shares of Stride in a report on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Canaccord Genuity Group lifted their price target on shares of Stride from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Morgan Stanley cut their price objective on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Finally, Wall Street Zen raised Stride from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $125.75.

About Stride

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.