MML Investors Services LLC Takes Position in Stride, Inc. (NYSE:LRN)

MML Investors Services LLC purchased a new position in Stride, Inc. (NYSE:LRN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,642 shares of the company’s stock, valued at approximately $225,000.

Other large investors also recently modified their holdings of the company. Mendota Financial Group LLC purchased a new stake in Stride in the third quarter valued at approximately $86,000. nVerses Capital LLC bought a new position in shares of Stride in the 2nd quarter worth $78,000. GAMMA Investing LLC raised its position in shares of Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after buying an additional 643 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings 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 acquiring an additional 420 shares during the last quarter. Finally, Retirement Guys Formula LLC purchased a new position in shares of Stride in the 3rd quarter worth about $203,000. 98.24% of the stock is currently owned by institutional investors.

Insider Activity

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now directly owns 85,058 shares in the company, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised their price objective on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Barrington Research boosted 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. Citigroup raised 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. Finally, BMO Capital Markets boosted their price objective on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.50.

Stride Trading Up 0.0 %

LRN opened at $105.50 on Friday. Stride, Inc. has a one year low of $54.81 and a one year high of $112.80. 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 business has a 50 day simple moving average of $100.19 and a two-hundred day simple moving average of $84.14. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 0.80 and a beta of 0.30.

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

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.