Illinois Municipal Retirement Fund Sells 1,370 Shares of Stride, Inc. (NYSE:LRN)

Illinois Municipal Retirement Fund lessened its stake in Stride, Inc. (NYSE:LRN) by 5.8% in the first quarter, HoldingsChannel reports. The firm owned 22,207 shares of the company’s stock after selling 1,370 shares during the period. Illinois Municipal Retirement Fund’s holdings in Stride were worth $1,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Stride by 0.6% in the third quarter. Vanguard Group Inc. now owns 4,969,506 shares of the company’s stock valued at $223,777,000 after purchasing an additional 28,661 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Stride by 0.5% during the third quarter. Deutsche Bank AG now owns 570,751 shares of the company’s stock worth $25,701,000 after buying an additional 2,582 shares during the period. Norges Bank acquired a new position in shares of Stride during the fourth quarter worth about $25,594,000. Wellington Management Group LLP boosted its position in shares of Stride by 48.3% during the third quarter. Wellington Management Group LLP now owns 325,831 shares of the company’s stock worth $14,672,000 after buying an additional 106,091 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Stride by 147.8% during the fourth quarter. Russell Investments Group Ltd. now owns 312,044 shares of the company’s stock worth $18,526,000 after buying an additional 186,099 shares during the period. Institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

LRN has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and set a $75.00 price target on shares of Stride in a research report on Wednesday, April 24th. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets increased their price target on Stride from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Stride Price Performance

Shares of NYSE LRN opened at $68.58 on Monday. The firm has a market cap of $2.97 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 0.68 and a beta of 0.28. The company has a current ratio of 4.29, a quick ratio of 4.21 and a debt-to-equity ratio of 0.40. Stride, Inc. has a 1-year low of $36.63 and a 1-year high of $73.32. The business’s 50 day moving average is $69.42 and its 200-day moving average is $63.78.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.13. Stride had a return on equity of 18.29% and a net margin of 9.29%. The firm had revenue of $520.84 million for the quarter, compared to analyst estimates of $507.89 million. During the same quarter last year, the company earned $1.30 EPS. The company’s revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that Stride, Inc. will post 4.55 earnings per share for the current year.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.