Public Sector Pension Investment Board Raises Stake in Stride, Inc. (NYSE:LRN)

Public Sector Pension Investment Board lifted its position in shares of Stride, Inc. (NYSE:LRN) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,260 shares of the company’s stock after buying an additional 2,400 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Stride worth $7,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mendota Financial Group LLC acquired a new position in shares of Stride during the 3rd quarter worth $86,000. nVerses Capital LLC acquired a new position in shares of Stride during the 2nd quarter worth $78,000. GAMMA Investing LLC raised its stake in shares of Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after buying an additional 643 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Stride by 24.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock worth $184,000 after buying an additional 420 shares during the last quarter. Finally, Retirement Guys Formula LLC acquired a new position in shares of Stride during the 3rd quarter worth $203,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Down 0.2 %

LRN opened at $106.87 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. The business has a 50-day moving average of $88.69 and a two-hundred day moving average of $78.97. Stride, Inc. has a 12 month low of $54.81 and a 12 month high of $108.48.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter in the previous year, the business earned $0.11 EPS. The firm’s revenue was up 14.8% on a year-over-year basis. On average, research analysts expect that Stride, Inc. will post 6.66 earnings per share for the current year.

Insider Transactions at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group boosted their target price on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Barrington Research boosted their target price on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Citigroup boosted their target price on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.