Cim LLC Buys 11,747 Shares of Stride, Inc. $LRN

Cim LLC raised its stake in Stride, Inc. (NYSE:LRN) by 173.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,536 shares of the company’s stock after acquiring an additional 11,747 shares during the period. Cim LLC’s holdings in Stride were worth $2,345,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LRN. Graham Capital Management L.P. bought a new stake in Stride in the fourth quarter valued at $341,000. Lazard Asset Management LLC grew its position in Stride by 13.1% in the fourth quarter. Lazard Asset Management LLC now owns 39,356 shares of the company’s stock valued at $4,089,000 after acquiring an additional 4,552 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Stride by 2.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,435 shares of the company’s stock valued at $3,059,000 after acquiring an additional 733 shares during the period. Occudo Quantitative Strategies LP bought a new stake in Stride in the fourth quarter valued at $566,000. Finally, ProShare Advisors LLC grew its position in Stride by 44.6% in the fourth quarter. ProShare Advisors LLC now owns 12,839 shares of the company’s stock valued at $1,334,000 after acquiring an additional 3,957 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Stride Trading Up 2.0%

Shares of LRN opened at $161.16 on Friday. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $171.17. The firm has a market capitalization of $7.03 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 0.92 and a beta of 0.22. The stock’s fifty day simple moving average is $147.64 and its 200-day simple moving average is $142.35.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, research analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Insider Activity

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the transaction, the chief executive officer owned 706,353 shares of the company’s stock, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of recent analyst reports. Barrington Research boosted their price objective on Stride from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Wall Street Zen lowered Stride from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Morgan Stanley boosted their price objective on Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.40.

Stride 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.