Trail Ridge Investment Advisors LLC Takes $511,000 Position in Stride, Inc. $LRN

Trail Ridge Investment Advisors LLC purchased a new position in Stride, Inc. (NYSE:LRN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,930 shares of the company’s stock, valued at approximately $511,000.

A number of other hedge funds have also added to or reduced their stakes in LRN. Norges Bank purchased a new stake in shares of Stride in the fourth quarter valued at approximately $72,871,000. Janus Henderson Group PLC lifted its stake in Stride by 61.0% in the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after acquiring an additional 862,849 shares during the period. William Blair Investment Management LLC bought a new position in Stride during the 2nd quarter worth about $71,036,000. Morgan Stanley increased its position in Stride by 98.1% during the 4th quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock valued at $105,938,000 after purchasing an additional 808,141 shares during the period. Finally, Deutsche Bank AG bought a new stake in shares of Stride in the 2nd quarter valued at about $63,624,000. 98.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LRN shares. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a report on Monday, June 15th. William Blair cut Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $109.75.

Stride Trading Up 0.9%

Shares of NYSE:LRN opened at $85.08 on Tuesday. The business’s 50-day moving average is $85.62 and its 200 day moving average is $88.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.94 and a quick ratio of 5.81. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17. The firm has a market capitalization of $3.54 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.49 and a beta of 0.11.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.48. Stride had a return on equity of 23.49% and a net margin of 13.43%.The business had revenue of $636.06 million for the quarter, compared to analyst estimates of $626.52 million. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. On average, research analysts predict that Stride, Inc. will post 8.62 earnings per share for the current fiscal year.

Stride Profile

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.