Moab Capital Partners LLC bought a new stake in shares of Stride, Inc. (NYSE:LRN) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,100 shares of the company’s stock, valued at approximately $425,000. Stride accounts for 0.9% of Moab Capital Partners LLC’s holdings, making the stock its 14th largest position.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Eaton Vance Management acquired a new stake in shares of Stride during the 1st quarter valued at about $13,664,000. Amundi Asset Management US Inc. raised its position in Stride by 49.3% during the first quarter. Amundi Asset Management US Inc. now owns 325,402 shares of the company’s stock valued at $9,798,000 after acquiring an additional 107,465 shares in the last quarter. Ameritas Investment Company LLC acquired a new stake in Stride in the first quarter valued at approximately $38,000. Intrinsic Edge Capital Management LLC bought a new stake in Stride in the first quarter worth approximately $3,402,000. Finally, Price T Rowe Associates Inc. MD grew its position in Stride by 33.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,643 shares of the company’s stock worth $832,000 after acquiring an additional 6,868 shares in the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:LRN traded down $0.93 during midday trading on Thursday, reaching $31.25. The company’s stock had a trading volume of 43,449 shares, compared to its average volume of 635,214. The stock’s fifty day simple moving average is $29.85. The company has a quick ratio of 3.15, a current ratio of 3.26 and a debt-to-equity ratio of 0.43. Stride, Inc. has a fifty-two week low of $20.39 and a fifty-two week high of $52.84. The company has a market capitalization of $1.30 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.12 and a beta of 0.61.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Stride from a “buy” rating to a “hold” rating in a report on Tuesday, June 22nd. Morgan Stanley upped their price target on Stride from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 21st. Finally, TheStreet raised Stride from a “c+” rating to a “b” rating in a research note on Tuesday, April 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Stride presently has a consensus rating of “Buy” and a consensus price target of $42.20.
In related news, EVP Vincent Mathis sold 9,398 shares of the business’s stock in a transaction that occurred on Friday, April 23rd. The shares were sold at an average price of $31.44, for a total value of $295,473.12. Following the completion of the transaction, the executive vice president now owns 25,710 shares in the company, valued at approximately $808,322.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.95% of the company’s stock.
Stride, Inc, a technology-based education company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally. The company offers managed public school programs, which offer an integrated package of systems, services, products, and professional services that K12 administers to support an online or blended public school, including administrative support, information technology and provisioning, academic support, curriculum, learning systems, and instructional services.
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