Public Sector Pension Investment Board Acquires 6,282 Shares of Stride, Inc. (NYSE:LRN)

Public Sector Pension Investment Board boosted its stake in shares of Stride, Inc. (NYSE:LRN) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,860 shares of the company’s stock after acquiring an additional 6,282 shares during the quarter. Public Sector Pension Investment Board owned about 0.20% of Stride worth $6,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LRN. New York State Teachers Retirement System increased its position in shares of Stride by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 22,879 shares of the company’s stock valued at $1,443,000 after purchasing an additional 200 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Stride by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock valued at $1,442,000 after acquiring an additional 217 shares during the period. Arizona State Retirement System lifted its holdings in shares of Stride by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock worth $813,000 after acquiring an additional 220 shares during the last quarter. Isthmus Partners LLC boosted its stake in shares of Stride by 4.8% during the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock worth $339,000 after purchasing an additional 222 shares during the period. Finally, Sei Investments Co. grew its holdings in Stride by 0.6% during the 2nd 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 during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LRN. Canaccord Genuity Group assumed coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Citigroup cut Stride from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $77.00 to $90.00 in a report on Tuesday, August 20th. Canaccord Genuity Group started coverage on Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. Barrington Research reissued an “outperform” rating and set a $90.00 target price on shares of Stride in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.83.

Stride Price Performance

Shares of LRN stock opened at $84.67 on Thursday. Stride, Inc. has a twelve month low of $43.77 and a twelve month high of $86.06. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $79.03 and a two-hundred day simple moving average of $70.80. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 0.84 and a beta of 0.26.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping 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 company had revenue of $534.18 million for the quarter, compared to analysts’ expectations of $525.89 million. During the same period in the prior year, the business earned $1.01 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that Stride, Inc. will post 5.05 EPS for the current fiscal year.

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.