Stride, Inc. $LRN Stock: CenterBook Partners LP Raises Position

CenterBook Partners LP boosted its holdings in shares of Stride, Inc. (NYSE:LRN) by 339.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,618 shares of the company’s stock after purchasing an additional 59,960 shares during the quarter. CenterBook Partners LP’s holdings in Stride were worth $6,053,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its stake in shares of Stride by 26.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,147 shares of the company’s stock worth $947,000 after buying an additional 2,519 shares during the period. MGO One Seven LLC acquired a new stake in Stride in the 3rd quarter valued at $225,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Stride by 2.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 29,610 shares of the company’s stock worth $2,309,000 after acquiring an additional 800 shares in the last quarter. John Boyer Inc. purchased a new stake in Stride in the 3rd quarter worth $67,000. Finally, Signaturefd LLC increased its holdings in Stride by 157.2% in the 3rd quarter. Signaturefd LLC now owns 1,219 shares of the company’s stock worth $95,000 after acquiring an additional 745 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Price Performance

Shares of NYSE LRN traded up $0.22 during mid-day trading on Friday, reaching $75.09. The company’s stock had a trading volume of 1,427,519 shares, compared to its average volume of 943,955. The stock has a 50-day moving average of $80.56 and a two-hundred day moving average of $85.91. The stock has a market capitalization of $3.16 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.42 and a beta of 0.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.53 and a current ratio of 2.56. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $103.67.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.30. The company had revenue of $639.38 million during the quarter, compared to analysts’ expectations of $612.25 million. Stride had a net margin of 13.18% and a return on equity of 22.06%. Stride’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 EPS. On average, equities research analysts anticipate that Stride, Inc. will post 9.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LRN has been the topic of several recent analyst reports. Barrington Research decreased their price objective on shares of Stride from $125.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, October 23rd. Weiss Ratings raised shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. BMO Capital Markets reduced their price target on shares of Stride from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Monday, October 5th. Finally, Zacks Research raised shares of Stride from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Stride presently has an average rating of “Moderate Buy” and a consensus price target of $106.25.

Insider Activity at Stride

In related news, Director Brian A. Shepherd purchased 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average price of $76.69 per share, with a total value of $920,280.00. Following the completion of the acquisition, the director owned 13,094 shares in the company, valued at $1,004,178.86. This trade represents a 1,096.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dylan G. Haggart purchased 137,500 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was bought at an average cost of $77.12 per share, with a total value of $10,604,000.00. Following the acquisition, the director owned 2,091,403 shares of the company’s stock, valued at approximately $161,288,999.36. The trade was a 7.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 405,045 shares of company stock worth $31,483,496. Insiders own 3.00% of the company’s stock.

Stride Company Profile

Stride, Inc is an education technology company that provides online and blended learning programs for K-12 students. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instructional software, teaching support and student services. Its offerings are designed to support full-time virtual schools, supplemental courses and traditional schools incorporating online learning.

Stride also provides career-focused education through programs that combine academic instruction with career exploration, technical training and industry-aligned learning opportunities.