South Street Advisors LLC Buys 1,632 Shares of Stride, Inc. (NYSE:LRN)

South Street Advisors LLC boosted its stake in shares of Stride, Inc. (NYSE:LRN) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,084 shares of the company’s stock after purchasing an additional 1,632 shares during the period. South Street Advisors LLC owned about 0.21% of Stride worth $6,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRN. Van Hulzen Asset Management LLC raised its position in Stride by 5.4% in the second quarter. Van Hulzen Asset Management LLC now owns 19,127 shares of the company’s stock worth $1,348,000 after acquiring an additional 978 shares during the period. Bright Futures Wealth Management LLC. raised its position in Stride by 3.1% in the second quarter. Bright Futures Wealth Management LLC. now owns 17,317 shares of the company’s stock worth $1,269,000 after acquiring an additional 517 shares during the period. Isthmus Partners LLC raised its position in Stride by 4.8% in the second quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock worth $339,000 after acquiring an additional 222 shares during the period. Arizona State Retirement System raised its position in Stride by 1.9% in the second quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock worth $813,000 after acquiring an additional 220 shares during the period. Finally, Victory Capital Management Inc. raised its position in Stride by 1,443.6% in the second quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after acquiring an additional 448,849 shares during the period. Institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LRN. Citigroup downgraded shares of Stride from a “buy” rating to a “neutral” rating and increased their price target for the stock from $77.00 to $90.00 in a research report on Tuesday, August 20th. Canaccord Genuity Group initiated coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Barrington Research raised their target price on shares of Stride from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group initiated coverage on shares of Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.83.

Stride Price Performance

LRN stock opened at $78.08 on Wednesday. Stride, Inc. has a 12 month low of $43.77 and a 12 month high of $83.97. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $75.90 and a 200 day moving average price of $69.12. The stock has a market cap of $3.38 billion, a PE ratio of 18.33, a P/E/G ratio of 0.79 and a beta of 0.26.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.15. The company had revenue of $534.18 million during the quarter, compared to analysts’ expectations of $525.89 million. Stride had a net margin of 10.01% and a return on equity of 19.12%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 EPS. Equities research analysts anticipate that Stride, Inc. will post 5.05 earnings per share for the current year.

Stride Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.