Wedmont Private Capital Makes New Investment in Stride, Inc. (NYSE:LRN)

Wedmont Private Capital acquired a new stake in shares of Stride, Inc. (NYSE:LRN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,561 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in Stride in the 4th quarter valued at $41,000. CIBC Private Wealth Group LLC lifted its stake in shares of Stride by 85.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock valued at $42,000 after buying an additional 178 shares in the last quarter. Covestor Ltd lifted its stake in shares of Stride by 51.6% in the fourth quarter. Covestor Ltd now owns 632 shares of the company’s stock valued at $66,000 after buying an additional 215 shares in the last quarter. Gen Wealth Partners Inc acquired a new position in shares of Stride during the fourth quarter valued at about $75,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Stride during the fourth quarter worth about $77,000. Institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LRN. William Blair reaffirmed an “outperform” rating on shares of Stride in a research report on Wednesday, April 30th. Wall Street Zen downgraded Stride from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Canaccord Genuity Group lifted their target price on Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Stride in a report on Thursday, May 1st. Finally, Barrington Research raised their price objective on Stride from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $126.83.

Stride Stock Performance

Shares of LRN opened at $141.97 on Thursday. The stock has a 50 day moving average of $145.35 and a 200 day moving average of $129.12. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.04 and a beta of 0.35.

Stride (NYSE:LRN) last released its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The company had revenue of $613.38 million during the quarter, compared to analysts’ expectations of $591.15 million. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Stride 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.