GAMMA Investing LLC Acquires 643 Shares of Stride, Inc. (NYSE:LRN)

GAMMA Investing LLC boosted its holdings in shares of Stride, Inc. (NYSE:LRN) by 45.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,061 shares of the company’s stock after purchasing an additional 643 shares during the quarter. GAMMA Investing LLC’s holdings in Stride were worth $176,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LRN. nVerses Capital LLC bought a new stake in shares of Stride in the 2nd quarter worth about $78,000. Motco purchased a new position in Stride in the first quarter worth about $74,000. EntryPoint Capital LLC bought a new stake in Stride during the first quarter worth approximately $77,000. Central Pacific Bank Trust Division raised its position in Stride by 24.2% during the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after purchasing an additional 420 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Stride by 53.8% in the 3rd quarter. SG Americas Securities LLC now owns 2,511 shares of the company’s stock valued at $214,000 after purchasing an additional 878 shares during the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

LRN stock opened at $71.75 on Friday. Stride, Inc. has a 1-year low of $43.77 and a 1-year high of $88.02. The business has a 50-day moving average price of $80.76 and a 200 day moving average price of $72.21. The company has a market capitalization of $3.10 billion, a P/E ratio of 16.84, a PEG ratio of 0.74 and a beta of 0.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.27 by $0.15. Stride had a net margin of 10.01% and a return on equity of 19.12%. The business had revenue of $534.18 million during the quarter, compared to analyst estimates of $525.89 million. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that Stride, Inc. will post 5.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LRN shares. Canaccord Genuity Group initiated coverage on Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock. Barrington Research restated an “outperform” rating and set a $90.00 price objective on shares of Stride in a report on Friday. BMO Capital Markets increased their target price on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Citigroup cut shares of Stride from a “buy” rating to a “neutral” rating and upped their price target for the stock from $77.00 to $90.00 in a report on Tuesday, August 20th. Finally, Canaccord Genuity Group initiated coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Stride currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.83.

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.