Louisiana State Employees Retirement System Acquires 500 Shares of Stride, Inc. (NYSE:LRN)

Louisiana State Employees Retirement System boosted its holdings in shares of Stride, Inc. (NYSE:LRN) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 20,600 shares of the company’s stock after purchasing an additional 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Stride were worth $1,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Motco bought a new position in Stride during the first quarter valued at approximately $74,000. EntryPoint Capital LLC bought a new position in shares of Stride in the first quarter valued at approximately $77,000. nVerses Capital LLC bought a new position in shares of Stride in the second quarter valued at approximately $78,000. Mendota Financial Group LLC bought a new position in shares of Stride in the third quarter valued at approximately $86,000. Finally, Advisors Asset Management Inc. raised its position in shares of Stride by 38.0% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after purchasing an additional 754 shares during the period. Institutional investors own 98.24% of the company’s stock.

Insiders Place Their Bets

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction on Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.76% of the company’s stock.

Stride Trading Up 3.3 %

Shares of Stride stock opened at $94.06 on Thursday. The company’s fifty day simple moving average is $80.05 and its 200-day simple moving average is $73.63. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.64 and a beta of 0.26. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. Stride, Inc. has a 1 year low of $54.61 and a 1 year high of $95.47.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.76%. The firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts expect that Stride, Inc. will post 5.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LRN shares. Canaccord Genuity Group started coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Citigroup lifted their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday. Canaccord Genuity Group lifted their price target on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price target on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Barrington Research raised their price objective on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Stride has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Stride Company 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.