Chase Investment Counsel Corp Purchases New Position in Stride, Inc. $LRN

Chase Investment Counsel Corp acquired a new position in shares of Stride, Inc. (NYSE:LRN) during the first quarter, HoldingsChannel.com reports. The fund acquired 20,000 shares of the company’s stock, valued at approximately $1,763,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of Stride during the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after acquiring an additional 85 shares during the period. Leonteq Securities AG acquired a new stake in Stride in the fourth quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd grew its position in Stride by 482.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company’s stock valued at $40,000 after acquiring an additional 511 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Trading Down 0.9%

Shares of LRN opened at $84.88 on Wednesday. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17. The stock has a 50-day moving average price of $89.91 and a 200 day moving average price of $86.45. 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 company has a market capitalization of $3.61 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.48 and a beta of 0.10.

Stride (NYSE:LRN) last posted its quarterly earnings data 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. Stride had a return on equity of 25.20% and a net margin of 12.15%.The company had revenue of $629.87 million for the quarter, compared to the consensus estimate of $629.69 million. During the same period in the previous year, the business earned $2.02 EPS. Stride’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Stride, Inc. will post 8.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LRN. Barrington Research reissued an “outperform” rating and set a $125.00 target price on shares of Stride in a research report on Thursday, April 16th. William Blair reaffirmed an “outperform” rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research note on Monday, June 15th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Stride has a consensus rating of “Hold” and a consensus 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.