Sanctuary Advisors LLC Invests $534,000 in Stride, Inc. (NYSE:LRN)

Sanctuary Advisors LLC bought a new position in shares of Stride, Inc. (NYSE:LRN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,963 shares of the company’s stock, valued at approximately $534,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Motco bought a new position in shares of Stride in the 1st quarter valued at about $74,000. EntryPoint Capital LLC acquired a new position in shares of Stride during the 1st quarter worth approximately $77,000. nVerses Capital LLC acquired a new position in shares of Stride during the 2nd quarter worth approximately $78,000. GAMMA Investing LLC raised its stake in shares of Stride by 25.9% during the 1st quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock worth $87,000 after purchasing an additional 282 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Stride by 38.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after buying an additional 754 shares during the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

LRN opened at $70.58 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95. The business has a fifty day simple moving average of $80.75 and a 200 day simple moving average of $72.44. Stride, Inc. has a 1 year low of $43.77 and a 1 year high of $88.02. The company has a market capitalization of $3.05 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.26.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barrington Research restated an “outperform” rating and set a $90.00 target price on shares of Stride in a report on Friday, October 11th. Canaccord Genuity Group began coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. BMO Capital Markets lifted their price target on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group assumed coverage on Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Finally, Citigroup cut Stride from a “buy” rating to a “neutral” rating and raised their price objective for the company from $77.00 to $90.00 in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.