Jupiter Topco LLC Invests $199.72 Million in Stride, Inc. $LRN

Jupiter Topco LLC bought a new position in shares of Stride, Inc. (NYSE:LRN) in the 2nd quarter, Holdings Channel reports. The fund bought 2,315,672 shares of the company’s stock, valued at approximately $199,715,000. Jupiter Topco LLC owned approximately 0.06% of Stride as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. ABS Investment Management LLC bought a new stake in shares of Stride during the second quarter worth approximately $1,724,800,000. Hsbc Holdings PLC bought a new stake in Stride in the 2nd quarter valued at $452,000. PDT Partners LLC bought a new position in Stride during the 2nd quarter worth $1,758,000. Palisade Capital Management LP acquired a new stake in shares of Stride during the second quarter worth $3,611,000. Finally, Lakewood Capital Management LP bought a new stake in shares of Stride in the second quarter valued at about $7,762,000. 98.24% of the stock is owned by institutional investors.

Stride Stock Performance

Shares of NYSE:LRN opened at $84.81 on Thursday. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.50 and a beta of 0.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.94 and a quick ratio of 5.81. The company’s 50 day simple moving average is $85.67 and its 200 day simple moving average is $88.36.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, August 4th. The company reported $2.12 earnings per share for the quarter, beating 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 firm had revenue of $636.06 million for the quarter, compared to the consensus estimate of $626.52 million. During the same quarter last year, the business posted $2.29 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts predict that Stride, Inc. will post 8.62 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.