Bleakley Financial Group LLC Boosts Stake in Stride, Inc. (NYSE:LRN)

Bleakley Financial Group LLC raised its position in shares of Stride, Inc. (NYSE:LRN) by 14.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400 shares of the company’s stock after buying an additional 547 shares during the quarter. Bleakley Financial Group LLC’s holdings in Stride were worth $457,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Stride during the 4th quarter valued at approximately $37,000. KBC Group NV grew its holdings in Stride by 68.5% during the 4th quarter. KBC Group NV now owns 1,891 shares of the company’s stock valued at $197,000 after buying an additional 769 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Stride by 27.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after buying an additional 426 shares in the last quarter. Sheets Smith Wealth Management purchased a new position in Stride during the 4th quarter valued at approximately $205,000. Finally, OLD National Bancorp IN purchased a new position in Stride during the 4th quarter valued at approximately $206,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Price Performance

Shares of LRN stock opened at $140.81 on Tuesday. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $145.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. The firm has a market capitalization of $6.13 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.04 and a beta of 0.32. The stock has a 50 day moving average price of $114.42 and a 200 day moving average price of $95.47.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. As a group, sell-side analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LRN shares. Morgan Stanley raised their price target on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group raised their price objective on Stride from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets raised their price objective on Stride from $122.00 to $134.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Barrington Research raised their price objective on Stride from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.83.

About Stride

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.