Stride, Inc. $LRN Shares Bought by Cynosure Group LLC

Cynosure Group LLC increased its stake in Stride, Inc. (NYSE:LRN) by 384.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,220 shares of the company’s stock after purchasing an additional 11,283 shares during the quarter. Cynosure Group LLC’s holdings in Stride were worth $923,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Stride by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock valued at $317,090,000 after buying an additional 340,838 shares in the last quarter. Invesco Ltd. grew its stake in shares of Stride by 1.3% in the third quarter. Invesco Ltd. now owns 1,805,508 shares of the company’s stock valued at $268,912,000 after buying an additional 23,488 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Stride by 32.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,659,795 shares of the company’s stock valued at $107,773,000 after buying an additional 408,585 shares in the last quarter. Morgan Stanley grew its stake in shares of Stride by 98.1% in the fourth quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock valued at $105,938,000 after buying an additional 808,141 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Stride by 37.2% in the third quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock valued at $225,060,000 after buying an additional 410,029 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Price Performance

NYSE LRN opened at $83.70 on Tuesday. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.60 and a beta of 0.10. The company has a 50-day moving average price of $93.36 and a two-hundred day moving average price of $82.28.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.09. The firm had revenue of $629.87 million for the quarter, compared to the consensus estimate of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.02 EPS. Analysts forecast that Stride, Inc. will post 8.21 EPS for the current year.

Wall Street Analyst Weigh In

LRN has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a report on Monday. Barrington Research reaffirmed an “outperform” rating and set a $125.00 target price on shares of Stride in a report on Thursday, April 16th. Finally, William Blair reissued an “outperform” rating on shares of Stride in a report on Monday. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.75.

Stride Company Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.