Hennessy Advisors Inc. Has $18.22 Million Stock Position in Stride, Inc. (NYSE:LRN)

Hennessy Advisors Inc. reduced its stake in shares of Stride, Inc. (NYSE:LRN) by 10.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 144,000 shares of the company’s stock after selling 16,400 shares during the period. Hennessy Advisors Inc.’s holdings in Stride were worth $18,216,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LRN. Point72 Hong Kong Ltd bought a new position in shares of Stride during the 4th quarter worth approximately $41,000. CIBC Private Wealth Group LLC grew its stake in shares of Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock worth $42,000 after acquiring an additional 178 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Stride by 158.8% during the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company’s stock worth $48,000 after acquiring an additional 235 shares in the last quarter. Covestor Ltd grew its stake in shares of Stride by 51.6% during the 4th quarter. Covestor Ltd now owns 632 shares of the company’s stock worth $66,000 after acquiring an additional 215 shares in the last quarter. Finally, Gen Wealth Partners Inc bought a new position in shares of Stride during the 4th quarter worth approximately $75,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Trading Up 0.8%

Shares of Stride stock opened at $143.06 on Friday. The business has a fifty day simple moving average of $146.04 and a two-hundred day simple moving average of $129.61. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.04 and a beta of 0.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The business had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same period in the prior year, the business earned $1.60 EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Research analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Wall Street Zen cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. BMO Capital Markets reissued an “outperform” rating on shares of Stride in a research note on Thursday, May 1st. William Blair reissued an “outperform” rating on shares of Stride in a research note on Wednesday, April 30th. Finally, Barrington Research raised their target price on shares of Stride from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $126.83.

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.