Royce & Associates LP Cuts Holdings in Stride, Inc. (NYSE:LRN)

Royce & Associates LP decreased its position in Stride, Inc. (NYSE:LRN) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,678 shares of the company’s stock after selling 90 shares during the period. Royce & Associates LP’s holdings in Stride were worth $2,981,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRN. R Squared Ltd purchased a new position in Stride in the fourth quarter valued at $37,000. Smartleaf Asset Management LLC increased its stake in shares of Stride by 372.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 751 shares of the company’s stock worth $79,000 after purchasing an additional 592 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Stride by 14.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,544 shares of the company’s stock worth $163,000 after purchasing an additional 199 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Stride during the fourth quarter worth about $165,000. Finally, TD Private Client Wealth LLC increased its stake in shares of Stride by 27.7% during the third quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock worth $167,000 after purchasing an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Up 0.9 %

Shares of NYSE LRN opened at $121.29 on Thursday. Stride, Inc. has a 12-month low of $56.17 and a 12-month high of $145.00. The stock has a market cap of $5.28 billion, a PE ratio of 20.25, a P/E/G ratio of 1.04 and a beta of 0.46. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $128.12 and a 200 day moving average of $105.40.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. As a group, sell-side analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analysts Set New Price Targets

LRN has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. BMO Capital Markets boosted their target price on shares of Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Barrington Research reissued an “outperform” rating and set a $140.00 target price on shares of Stride in a research note on Friday, March 14th. Finally, Canaccord Genuity Group boosted their target price on shares of Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.33.

About Stride

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.