Mountain Pacific Investment Advisers LLC Acquires Shares of 37,256 Stride, Inc. $LRN

Mountain Pacific Investment Advisers LLC bought a new position in shares of Stride, Inc. (NYSE:LRN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 37,256 shares of the company’s stock, valued at approximately $5,409,000.

A number of other institutional investors have also recently modified their holdings of the business. Lee Johnson Capital Management LLC acquired a new position in Stride in the 2nd quarter worth about $874,000. Campbell Newman Asset Management Inc. increased its position in shares of Stride by 7.1% in the second quarter. Campbell Newman Asset Management Inc. now owns 24,171 shares of the company’s stock valued at $3,509,000 after buying an additional 1,606 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Stride during the 2nd quarter worth approximately $435,000. Rezny Wealth Management Inc. lifted its position in shares of Stride by 0.6% during the 2nd quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company’s stock valued at $2,055,000 after buying an additional 83 shares in the last quarter. Finally, Kendall Capital Management grew its stake in Stride by 1.7% in the 2nd quarter. Kendall Capital Management now owns 23,915 shares of the company’s stock valued at $3,472,000 after acquiring an additional 400 shares during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer owned 706,353 shares of the company’s stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Stride Stock Down 2.9%

LRN stock opened at $144.68 on Thursday. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $150.62 and a two-hundred day moving average of $143.83. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 0.85 and a beta of 0.07.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. During the same period in the prior year, the business earned $1.42 earnings per share. The business’s revenue was up 22.4% compared to the same quarter last year. As a group, analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Stride from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $185.00 price target on shares of Stride in a research note on Tuesday, September 23rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.40.

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.