Entropy Technologies LP Makes New Investment in Stride, Inc. (NYSE:LRN)

Entropy Technologies LP acquired a new position in shares of Stride, Inc. (NYSE:LRN) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,178 shares of the company’s stock, valued at approximately $442,000.

A number of other hedge funds have also made changes to their positions in the business. EntryPoint Capital LLC acquired a new position in Stride in the first quarter valued at approximately $77,000. nVerses Capital LLC purchased a new stake in shares of Stride during the 2nd quarter worth approximately $78,000. Mendota Financial Group LLC acquired a new position in shares of Stride in the 3rd quarter valued at $86,000. Advisors Asset Management Inc. grew its position 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. Finally, GAMMA Investing LLC raised its stake in Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after acquiring an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

NYSE:LRN opened at $100.29 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 0.75 and a beta of 0.27. The firm’s fifty day moving average price is $84.43 and its 200 day moving average price is $76.81. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $103.98.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 earnings per share. On average, sell-side analysts expect that Stride, Inc. will post 6.66 EPS for the current year.

Insiders Place Their Bets

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business’s 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 directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on LRN shares. Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective on the stock. Barrington Research lifted their price target on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group lifted their price objective on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.17.

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.