Arizona State Retirement System Raises Position in Stride, Inc. (NYSE:LRN)

Arizona State Retirement System grew its position in Stride, Inc. (NYSE:LRN – Get Rating) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,465 shares of the company’s stock after buying an additional 428 shares during the period. Arizona State Retirement System’s holdings in Stride were worth $359,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Stride by 11.3% during the third quarter. Vanguard Group Inc. now owns 5,000,230 shares of the company’s stock valued at $210,160,000 after purchasing an additional 506,211 shares during the last quarter. Boston Partners raised its holdings in shares of Stride by 10.5% during the third quarter. Boston Partners now owns 3,110,143 shares of the company’s stock valued at $126,442,000 after purchasing an additional 296,073 shares during the last quarter. Portolan Capital Management LLC raised its holdings in shares of Stride by 26.1% during the third quarter. Portolan Capital Management LLC now owns 662,027 shares of the company’s stock valued at $27,825,000 after purchasing an additional 136,890 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Stride by 210.5% during the second quarter. Renaissance Technologies LLC now owns 197,800 shares of the company’s stock valued at $8,068,000 after purchasing an additional 134,100 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of Stride by 16.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 799,579 shares of the company’s stock valued at $29,049,000 after purchasing an additional 111,340 shares during the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on LRN. Morgan Stanley cut shares of Stride from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a report on Friday, March 10th. Barrington Research restated an “outperform” rating and set a $50.00 target price on shares of Stride in a research report on Friday, April 14th. StockNews.com started coverage on shares of Stride in a research report on Thursday. They set a “buy” rating for the company. Finally, BMO Capital Markets boosted their target price on shares of Stride from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th.

Stride Price Performance

Shares of NYSE:LRN opened at $41.75 on Monday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 0.74 and a beta of 0.32. The firm has a fifty day moving average price of $39.76 and a 200 day moving average price of $37.74. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.46 and a current ratio of 3.54. Stride, Inc. has a fifty-two week low of $30.66 and a fifty-two week high of $47.35.

Stride (NYSE:LRN – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.22. The firm had revenue of $470.30 million for the quarter, compared to analysts’ expectations of $455.97 million. Stride had a net margin of 6.17% and a return on equity of 13.36%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. As a group, sell-side analysts expect that Stride, Inc. will post 2.82 earnings per share for the current fiscal year.

Stride Company Profile

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Stride, Inc is a technology-based educational company, which engages in the provision of proprietary and third-party curriculum, software systems and educational services. It also offers online curriculum and career services to middle and high school students, under the Destinations Career Academy brand name.