Shannon River Fund Management LLC Invests $12.35 Million in Stride, Inc. $LRN

Shannon River Fund Management LLC purchased a new stake in Stride, Inc. (NYSE:LRN) in the 3rd quarter, HoldingsChannel reports. The firm purchased 82,928 shares of the company’s stock, valued at approximately $12,351,000. Stride accounts for approximately 2.0% of Shannon River Fund Management LLC’s investment portfolio, making the stock its 14th biggest position.

Several other institutional investors also recently bought and sold shares of LRN. Kendall Capital Management lifted its holdings in Stride by 1.8% in the 3rd quarter. Kendall Capital Management now owns 24,335 shares of the company’s stock valued at $3,624,000 after purchasing an additional 420 shares in the last quarter. Magnetar Financial LLC raised its holdings in Stride by 26.1% in the 3rd quarter. Magnetar Financial LLC now owns 2,070 shares of the company’s stock valued at $308,000 after buying an additional 429 shares during the period. Vestcor Inc lifted its position in Stride by 17.4% in the third quarter. Vestcor Inc now owns 11,235 shares of the company’s stock valued at $1,673,000 after buying an additional 1,663 shares during the last quarter. Swiss National Bank raised its position in Stride by 1.4% in the third quarter. Swiss National Bank now owns 84,400 shares of the company’s stock valued at $12,571,000 after purchasing an additional 1,200 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Stride by 1.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 50,715 shares of the company’s stock worth $7,554,000 after acquiring an additional 786 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Price Performance

Shares of NYSE:LRN opened at $85.17 on Thursday. The company has a market cap of $3.63 billion, a P/E ratio of 12.96, a PEG ratio of 0.51 and a beta of 0.12. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17. The company has a 50-day moving average price of $79.22 and a 200 day moving average price of $98.46. The company has a quick ratio of 7.19, a current ratio of 7.27 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

LRN has been the topic of a number of research reports. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Morgan Stanley dropped their target price on Stride from $130.00 to $95.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a research report on Monday, December 29th. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research note on Tuesday, March 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $125.00 price target on shares of Stride in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $109.75.

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.