Retirement Guys Formula LLC Makes New Investment in Stride, Inc. (NYSE:LRN)

Retirement Guys Formula LLC acquired a new position in shares of Stride, Inc. (NYSE:LRN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,375 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mendota Financial Group LLC purchased a new position in shares of Stride during the third quarter worth approximately $86,000. nVerses Capital LLC purchased a new position in shares of Stride during the second quarter worth approximately $78,000. Motco purchased a new position in shares of Stride during the first quarter worth approximately $74,000. EntryPoint Capital LLC purchased a new position in shares of Stride during the first quarter worth approximately $77,000. Finally, GAMMA Investing LLC grew its position in shares of Stride by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock worth $87,000 after acquiring an additional 282 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Wall Street Analyst Weigh In

LRN has been the topic of a number of research reports. Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock. Barrington Research restated an “outperform” rating and set a $90.00 target price on shares of Stride in a research report on Friday, October 11th. BMO Capital Markets lifted their price objective on shares of Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Canaccord Genuity Group began coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective on the stock. Finally, StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Stride currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.83.

Stride Price Performance

Shares of NYSE LRN traded up $0.33 during trading on Monday, hitting $64.85. 601,669 shares of the company were exchanged, compared to its average volume of 768,142. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.74 and a beta of 0.26. Stride, Inc. has a 1 year low of $43.77 and a 1 year high of $88.02. The firm’s fifty day moving average price is $79.82 and its 200 day moving average price is $72.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.27 by $0.15. The company had revenue of $534.18 million for the quarter, compared to analyst estimates of $525.89 million. Stride had a net margin of 10.01% and a return on equity of 19.12%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. On average, sell-side analysts expect that Stride, Inc. will post 5.05 earnings per share for the current fiscal year.

Stride 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.