Mirae Asset Global Investments Co. Ltd. increased its holdings in Stride, Inc. (NYSE:LRN – free report ) by 17.0% during the first quarter, according to the latest disclosures made to the Securities and Exchange Commission (SEC). The institutional investor bought an additional 4,546 shares during the quarter, giving it a holding of 31,262 shares of the company’s stock. Mirae Asset Global Investments Co. Ltd. held 0.07% of Stride worth $1,971,000 as of the latest SEC filing.
A number of other institutional investors and hedge funds also modified their holdings in LRN. McGlone Suttner Wealth Management Inc. purchased a new stake in Stride in the fourth quarter valued at approximately $29,000. Strs Ohio purchased a new stake in Stride in the fourth quarter valued at approximately $47,000. GAMMA Investing LLC purchased a new stake in Stride in the fourth quarter valued at approximately $65,000. Quadrant Capital Group LLC increased its stake in Stride by 76.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock valued at $66,000 after purchasing an additional 483 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Stride by 156.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,310 shares of the company’s stock, valued at $78,000, after purchasing an additional 800 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
LRN has been the subject of numerous analyst reports recently. Barrington Research reaffirmed an “outperform” rating and set a $75.00 price target on shares of Stride in a research report on Wednesday, April 24th. StockNews.com raised their rating on Stride from a “hold” to a “buy” rating in a report on Thursday. Finally, BMO Capital Markets raised their price target on Stride from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating. According to MarketBeat data, the stock currently has a consensus rating of a “moderate buy” with an average price target of $72.00.
Read the latest research report on LRN
Stride Trading rose 1.6%
NYSE LRN opened trading at $68.58 on Friday. The company’s 50-day moving average price is $69.42 and its 200-day moving average price is $63.75. Stride, Inc.’s 52-week low is $36.63 and its 52-week high is $73.32. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 16.10, a price-to-earnings ratio of 0.67 and a beta of 0.28. The company has a quick ratio of 4.21, a current ratio of 4.29 and a debt-to-equity ratio of 0.40.
Stride (NYSE:LRN – get free report ) announced its latest earnings results on Tuesday, April 23rd. The company reported quarterly EPS of $1.60, beating the consensus estimate of $1.47 by $0.13. The company’s quarterly revenue was $520.84 million, beating the consensus estimate of $507.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. The company’s revenue grew 10.7% year over year. EPS during the same period last year was $1.30. Equity analysts expect Stride to post earnings per share of $4.55 for the current fiscal year.
Stride Company Profile
(Free report)
Stride, Inc., a technology-based educational services company, provides proprietary and third-party online curriculum, software systems and educational services to facilitate personalized learning for students in kindergarten through grade 12 (K-12) throughout the United States and around the world.
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