GAMMA Investing LLC Increases Stock Position in Stride, Inc. (NYSE:LRN)

GAMMA Investing LLC lifted its position in shares of Stride, Inc. (NYSE:LRN) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,468 shares of the company’s stock after buying an additional 407 shares during the period. GAMMA Investing LLC’s holdings in Stride were worth $256,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new stake in Stride during the third quarter worth about $430,000. Franklin Resources Inc. grew its holdings in shares of Stride by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 27,816 shares of the company’s stock worth $2,373,000 after purchasing an additional 3,477 shares during the period. Tidal Investments LLC increased its position in Stride by 64.0% during the 3rd quarter. Tidal Investments LLC now owns 8,642 shares of the company’s stock worth $737,000 after purchasing an additional 3,374 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Stride by 161.9% in the third quarter. Sanctuary Advisors LLC now owns 20,859 shares of the company’s stock valued at $1,779,000 after buying an additional 12,896 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in Stride by 27.7% during the third quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after buying an additional 426 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. BMO Capital Markets increased their price target on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley boosted their price objective on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Barrington Research increased their target price on 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 price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Insider Transactions at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now directly owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Stride Stock Performance

Shares of LRN opened at $107.54 on Wednesday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 0.80 and a beta of 0.32. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $104.13 and its two-hundred day moving average is $86.46. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $112.80.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.72. The firm had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. Analysts forecast that Stride, Inc. will post 6.64 EPS for the current fiscal year.

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.