Picton Mahoney Asset Management Makes New $162,000 Investment in Stride, Inc. (NYSE:LRN)

Picton Mahoney Asset Management bought a new stake in Stride, Inc. (NYSE:LRN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,725 shares of the company’s stock, valued at approximately $162,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp purchased a new stake in shares of Stride during the 4th quarter valued at $210,000. Merit Financial Group LLC increased its holdings in Stride by 17.8% during the fourth quarter. Merit Financial Group LLC now owns 31,385 shares of the company’s stock worth $1,863,000 after buying an additional 4,743 shares during the last quarter. Victory Capital Management Inc. raised its position in Stride by 85.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,330 shares of the company’s stock worth $1,563,000 after acquiring an additional 12,134 shares during the period. EWA LLC purchased a new position in Stride in the fourth quarter valued at about $208,000. Finally, SummerHaven Investment Management LLC grew its position in shares of Stride by 0.9% during the 4th quarter. SummerHaven Investment Management LLC now owns 20,081 shares of the company’s stock valued at $1,192,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LRN shares. Barrington Research reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Stride in a report on Wednesday, April 24th. Morgan Stanley upped their price target on Stride from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. BMO Capital Markets boosted their price objective on Stride from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Citigroup increased their target price on shares of Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Stride Price Performance

Shares of NYSE:LRN opened at $71.50 on Friday. The company has a 50 day moving average of $62.88 and a 200 day moving average of $60.00. The company has a current ratio of 4.29, a quick ratio of 4.21 and a debt-to-equity ratio of 0.40. The stock has a market cap of $3.09 billion, a P/E ratio of 16.78, a P/E/G ratio of 0.77 and a beta of 0.26. Stride, Inc. has a 12 month low of $35.61 and a 12 month high of $73.32.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.13. Stride had a return on equity of 18.29% and a net margin of 9.29%. The company had revenue of $520.84 million during the quarter, compared to analyst estimates of $507.89 million. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Stride, Inc. will post 4.55 EPS for the current fiscal year.

Stride Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.