Havemeyer Place LP Buys New Shares in Stride, Inc. $LRN

Havemeyer Place LP bought a new stake in shares of Stride, Inc. (NYSE:LRN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 30,428 shares of the company’s stock, valued at approximately $1,976,000. Havemeyer Place LP owned 0.07% of Stride as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LRN. GW&K Investment Management LLC bought a new stake in Stride during the 3rd quarter valued at $17,277,000. Divisadero Street Capital Management LP bought a new stake in Stride during the 3rd quarter valued at $55,852,000. William Blair Investment Management LLC increased its stake in Stride by 37.2% during the 3rd quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock valued at $225,060,000 after purchasing an additional 410,029 shares in the last quarter. Cat Rock Capital Management LP increased its stake in Stride by 22.8% during the 3rd quarter. Cat Rock Capital Management LP now owns 203,614 shares of the company’s stock valued at $30,326,000 after purchasing an additional 37,761 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in Stride by 35.3% during the 4th quarter. Merit Financial Group LLC now owns 40,383 shares of the company’s stock valued at $2,622,000 after purchasing an additional 10,541 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Price Performance

LRN opened at $99.97 on Friday. The firm has a market cap of $4.25 billion, a P/E ratio of 15.43, a PEG ratio of 0.61 and a beta of 0.10. The firm has a 50-day moving average of $92.36 and a 200 day moving average of $80.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $171.17.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.21 by $0.09. Stride had a net margin of 12.15% and a return on equity of 25.20%. The business had revenue of $629.87 million for the quarter, compared to the consensus estimate of $629.69 million. During the same period in the prior year, the firm earned $2.02 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that Stride, Inc. will post 8.21 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a research note on Tuesday, March 3rd. Barrington Research reiterated an “outperform” rating and issued a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $109.75.

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.