Cynosure Group LLC Buys Shares of 4,367 Stride, Inc. (NYSE:LRN)

Cynosure Group LLC purchased a new position in shares of Stride, Inc. (NYSE:LRN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,367 shares of the company’s stock, valued at approximately $373,000.

Other institutional investors have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. acquired a new stake in Stride during the 2nd quarter worth approximately $43,387,000. Congress Asset Management Co. bought a new stake in Stride in the 3rd quarter valued at $45,616,000. Victory Capital Management Inc. boosted its stake in Stride by 1,443.6% in the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after purchasing an additional 448,849 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Stride by 641.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after purchasing an additional 439,911 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Stride by 20.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock valued at $149,608,000 after purchasing an additional 355,614 shares during the period. Institutional investors own 98.24% of the company’s stock.

Analysts Set New Price Targets

LRN has been the subject of a number of research reports. Barrington Research increased their price objective on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group began coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective on the stock. Citigroup raised their target price on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, BMO Capital Markets boosted their price target on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

Stride Stock Performance

NYSE LRN opened at $107.04 on Friday. The firm has a market capitalization of $4.67 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average price is $88.24 and its two-hundred day moving average price is $78.78. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $108.48.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The company had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. During the same period in the prior year, the firm earned $0.11 EPS. Stride’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts anticipate that Stride, Inc. will post 6.66 EPS for the current year.

Insider Buying and Selling at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the transaction, the director now directly owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

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.