Stride, Inc. $LRN Shares Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. boosted its stake in Stride, Inc. (NYSE:LRN) by 51.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,626 shares of the company’s stock after purchasing an additional 9,087 shares during the quarter. SummitTX Capital L.P. owned about 0.06% of Stride worth $2,348,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRN. AQR Capital Management LLC raised its stake in Stride by 67.3% during the first quarter. AQR Capital Management LLC now owns 28,547 shares of the company’s stock worth $3,611,000 after purchasing an additional 11,481 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Stride by 80.9% in the 1st quarter. NewEdge Advisors LLC now owns 5,124 shares of the company’s stock valued at $648,000 after purchasing an additional 2,291 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Stride by 12.4% during the 1st quarter. Empowered Funds LLC now owns 18,202 shares of the company’s stock valued at $2,303,000 after buying an additional 2,008 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Stride by 31.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company’s stock valued at $17,009,000 after buying an additional 32,470 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

LRN has been the topic of several research reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research report on Monday, June 15th. Barrington Research reissued an “outperform” rating and set a $125.00 price target on shares of Stride in a research report on Thursday, April 16th. William Blair restated an “outperform” rating on shares of Stride in a research note on Monday, June 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Stride presently has an average rating of “Hold” and a consensus price target of $109.75.

Stride Price Performance

Stride stock opened at $95.75 on Wednesday. The firm has a fifty day moving average of $89.87 and a 200-day moving average of $87.22. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $171.17. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $4.07 billion, a P/E ratio of 14.78, a PEG ratio of 0.50 and a beta of 0.10.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share 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 analyst estimates of $629.69 million. During the same quarter in the previous year, the business posted $2.02 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts predict that Stride, Inc. will post 8.21 EPS for the current year.

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.