Quest Partners LLC Purchases 8,302 Shares of Stride, Inc. (NYSE:LRN)

Quest Partners LLC raised its holdings in Stride, Inc. (NYSE:LRN) by 20,248.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,343 shares of the company’s stock after buying an additional 8,302 shares during the period. Quest Partners LLC’s holdings in Stride were worth $712,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LRN. EntryPoint Capital LLC acquired a new position in Stride in the 1st quarter valued at $77,000. nVerses Capital LLC bought a new stake in shares of Stride during the 2nd quarter worth approximately $78,000. Mendota Financial Group LLC acquired a new stake in shares of Stride during the 3rd quarter worth approximately $86,000. Advisors Asset Management Inc. boosted its position in shares of Stride by 38.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $173,000 after acquiring an additional 754 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Stride by 45.3% in the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after acquiring an additional 643 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Price Performance

Shares of NYSE LRN opened at $103.35 on Friday. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $85.87 and its 200-day moving average price is $77.59. The firm has a market capitalization of $4.50 billion, a P/E ratio of 18.80, a P/E/G ratio of 0.76 and a beta of 0.27. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $104.68.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. Equities research analysts anticipate that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on LRN. Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup raised their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Barrington Research increased their price objective on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets boosted their target price on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Activity at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the company’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 transaction, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by insiders.

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.