Stride, Inc. $LRN Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in Stride, Inc. (NYSE:LRN) by 18,660.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 54,406 shares of the company’s stock after buying an additional 54,116 shares during the period. Fifth Third Bancorp’s holdings in Stride were worth $4,797,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LRN. Vanguard Group Inc. increased its position in shares of Stride by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock worth $317,090,000 after purchasing an additional 340,838 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of Stride by 35.3% during the 4th quarter. Merit Financial Group LLC now owns 40,383 shares of the company’s stock worth $2,622,000 after purchasing an additional 10,541 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Stride by 59.3% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 369,928 shares of the company’s stock worth $24,019,000 after purchasing an additional 137,775 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Stride in the 4th quarter valued at approximately $988,000. Finally, Maxi Investments CY Ltd bought a new position in Stride during the 4th quarter worth approximately $1,000,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Down 0.5%

LRN opened at $87.21 on Friday. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17. The business has a 50 day moving average price of $89.98 and a 200 day moving average price of $86.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. The firm has a market cap of $3.71 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 0.49 and a beta of 0.10.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.09. The business had revenue of $629.87 million for the quarter, compared to the consensus estimate of $629.69 million. Stride had a net margin of 12.15% and a return on equity of 25.20%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. Research analysts forecast that Stride, Inc. will post 8.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on LRN. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Stride in a report on Thursday, April 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. William Blair restated an “outperform” rating on shares of Stride in a report on Monday, June 15th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a report on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $109.75.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.