Livforsakringsbolaget Skandia Omsesidigt Boosts Stock Position in Stride, Inc. (NYSE:LRN)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Stride, Inc. (NYSE:LRN) by 24.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,000 shares of the company’s stock after purchasing an additional 7,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Stride were worth $3,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its stake in shares of Stride by 1.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock worth $1,442,000 after acquiring an additional 217 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Stride by 1.9% in the second quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock valued at $813,000 after purchasing an additional 220 shares during the period. Isthmus Partners LLC increased its position in Stride by 4.8% during the second quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock worth $339,000 after purchasing an additional 222 shares during the last quarter. Sei Investments Co. raised its stake in Stride by 0.6% during the second quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock worth $2,834,000 after purchasing an additional 242 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Stride by 25.9% in the 1st quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock valued at $87,000 after purchasing an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Down 2.1 %

Shares of LRN opened at $71.75 on Friday. The company’s 50-day simple moving average is $80.76 and its 200-day simple moving average is $72.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10. Stride, Inc. has a 1 year low of $43.77 and a 1 year high of $88.02. The stock has a market capitalization of $3.10 billion, a PE ratio of 16.84, a P/E/G ratio of 0.74 and a beta of 0.26.

Stride (NYSE:LRN) last released its earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. The company had revenue of $534.18 million for the quarter, compared to analyst estimates 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 prior year, the business earned $1.01 EPS. Analysts forecast that Stride, Inc. will post 5.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective on the stock. Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target for the company. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Citigroup lowered shares of Stride from a “buy” rating to a “neutral” rating and increased their target price for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. Finally, Barrington Research reissued an “outperform” rating and issued a $90.00 price target on shares of Stride in a research note on Friday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.83.

About Stride

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.