Bastion Asset Management Inc. Buys New Holdings in Stride, Inc. $LRN

Bastion Asset Management Inc. bought a new position in Stride, Inc. (NYSE:LRN) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 67,686 shares of the company’s stock, valued at approximately $5,878,000. Stride accounts for 1.8% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Stride in the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. raised its position in Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after purchasing an additional 85 shares in the last quarter. Leonteq Securities AG bought a new position in Stride during the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd lifted its stake in Stride by 482.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 511 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Stock Up 4.9%

NYSE LRN opened at $87.50 on Friday. The stock’s 50 day simple moving average is $90.00 and its 200 day simple moving average is $86.02. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17. The firm has a market cap of $3.72 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.47 and a beta of 0.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.09. The firm had revenue of $629.87 million during 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 business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 EPS. As a group, sell-side analysts forecast that Stride, Inc. will post 8.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a research note on Monday, June 15th. William Blair restated an “outperform” rating on shares of Stride in a research report on Monday, June 15th. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Stride in a research note on Thursday, April 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.75.

Stride 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.