Clearbridge Investments LLC Grows Stake in Stride, Inc. (NYSE:LRN)

Clearbridge Investments LLC lifted its position in Stride, Inc. (NYSE:LRN) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,743 shares of the company’s stock after buying an additional 5,233 shares during the period. Clearbridge Investments LLC owned approximately 0.53% of Stride worth $14,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Stride in the 4th quarter worth $29,000. Strs Ohio purchased a new position in Stride during the fourth quarter valued at $47,000. GAMMA Investing LLC purchased a new position in Stride during the fourth quarter valued at $65,000. Quadrant Capital Group LLC lifted its position in Stride by 76.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock valued at $66,000 after purchasing an additional 483 shares in the last quarter. Finally, Motco purchased a new position in Stride during the first quarter valued at $74,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Price Performance

Shares of LRN stock traded up $1.02 during trading hours on Wednesday, hitting $70.92. The stock had a trading volume of 879,103 shares, compared to its average volume of 693,356. Stride, Inc. has a one year low of $37.44 and a one year high of $73.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.29 and a quick ratio of 4.21. The stock’s 50-day moving average price is $69.30 and its two-hundred day moving average price is $64.33. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.70 and a beta of 0.28.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.13. Stride had a return on equity of 18.29% and a net margin of 9.29%. The firm had revenue of $520.84 million for the quarter, compared to analysts’ expectations of $507.89 million. During the same period in the previous year, the firm posted $1.30 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Equities analysts forecast that Stride, Inc. will post 4.55 EPS for the current year.

Analysts Set New Price Targets

LRN has been the topic of several analyst reports. Barrington Research reiterated an “outperform” rating and set a $75.00 target price on shares of Stride in a research report on Wednesday, April 24th. BMO Capital Markets raised their price target on Stride from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, StockNews.com raised Stride from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Stride presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Stride Profile

Stride, Inc, a technology-based education service 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.