Louisiana State Employees Retirement System Invests $1.18 Million in Stride, Inc. (NYSE:LRN)

Louisiana State Employees Retirement System bought a new position in Stride, Inc. (NYSE:LRN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 19,900 shares of the company’s stock, valued at approximately $1,181,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LRN. SG Capital Management LLC grew its position in shares of Stride by 348.7% in the 3rd quarter. SG Capital Management LLC now owns 563,218 shares of the company’s stock worth $25,362,000 after buying an additional 437,685 shares during the period. Cooper Creek Partners Management LLC grew its position in shares of Stride by 89.1% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 472,934 shares of the company’s stock worth $21,296,000 after buying an additional 222,866 shares during the period. Wellington Management Group LLP grew its position in shares of Stride by 48.3% in the 3rd quarter. Wellington Management Group LLP now owns 325,831 shares of the company’s stock worth $14,672,000 after buying an additional 106,091 shares during the period. Nordea Investment Management AB purchased a new stake in shares of Stride in the 3rd quarter worth about $3,289,000. Finally, Blair William & Co. IL bought a new position in Stride in the 3rd quarter worth about $3,093,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRN. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. BMO Capital Markets upped their price target on shares of Stride from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley upped their price target on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Barrington Research reiterated an “outperform” rating and issued a $75.00 price target on shares of Stride in a research note on Wednesday, April 17th. Finally, Wedbush restated an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.75.

Stride Price Performance

LRN opened at $58.14 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.44 and a current ratio of 4.52. The stock has a market capitalization of $2.52 billion, a P/E ratio of 14.68, a P/E/G ratio of 0.66 and a beta of 0.26. The company’s 50-day simple moving average is $60.31 and its two-hundred day simple moving average is $58.16. Stride, Inc. has a 52-week low of $35.61 and a 52-week high of $69.70.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, January 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.23. The business had revenue of $504.87 million for the quarter, compared to analysts’ expectations of $498.05 million. Stride had a net margin of 8.80% and a return on equity of 17.77%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. As a group, analysts predict that Stride, Inc. will post 4.31 EPS for the current year.

Stride Company 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.