MML Investors Services LLC Takes Position in Stride, Inc. (NYSE:LRN)

MML Investors Services LLC purchased a new position in Stride, Inc. (NYSE:LRN) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,642 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRN. Crossmark Global Holdings Inc. grew its stake in shares of Stride by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company’s stock worth $274,000 after acquiring an additional 121 shares during the last quarter. Arizona State Retirement System grew its position in Stride by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock valued at $813,000 after purchasing an additional 220 shares during the last quarter. Isthmus Partners LLC increased its stake in Stride by 4.8% during the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock valued at $339,000 after purchasing an additional 222 shares in the last quarter. Amalgamated Bank raised its stake in shares of Stride by 1.9% in the third quarter. Amalgamated Bank now owns 12,528 shares of the company’s stock worth $1,069,000 after purchasing an additional 235 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Stride by 0.6% during the second quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock valued at $2,834,000 after purchasing an additional 242 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

Shares of NYSE LRN opened at $105.50 on Friday. The stock has a market cap of $4.60 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 0.80 and a beta of 0.30. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $112.80. The firm has a fifty day moving average price of $100.19 and a 200-day moving average price of $84.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Equities analysts anticipate that Stride, Inc. will post 6.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on LRN shares. Canaccord Genuity Group lifted their price objective on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised their price target on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup upped their price objective on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Morgan Stanley increased their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Barrington Research boosted their price target on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.50.

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.