ProVise Management Group LLC Invests $229,000 in Stride, Inc. (NYSE:LRN)

ProVise Management Group LLC acquired a new position in Stride, Inc. (NYSE:LRN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,859 shares of the company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Stride by 0.6% in the third quarter. Vanguard Group Inc. now owns 4,969,506 shares of the company’s stock worth $223,777,000 after acquiring an additional 28,661 shares in the last quarter. Deutsche Bank AG boosted its stake in Stride by 0.5% in the 3rd quarter. Deutsche Bank AG now owns 570,751 shares of the company’s stock worth $25,701,000 after purchasing an additional 2,582 shares in the last quarter. SG Capital Management LLC grew its position in Stride by 348.7% during the 3rd quarter. SG Capital Management LLC now owns 563,218 shares of the company’s stock worth $25,362,000 after purchasing an additional 437,685 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Stride by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 531,030 shares of the company’s stock valued at $23,912,000 after purchasing an additional 8,754 shares in the last quarter. Finally, Cooper Creek Partners Management LLC raised its holdings in shares of Stride by 89.1% in the third 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 last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LRN shares. Citigroup boosted their price objective on shares of Stride from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 29th. Barrington Research reissued an “outperform” rating and issued a $75.00 price objective on shares of Stride in a report on Wednesday, April 24th. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets upped their target price on Stride from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Stride Stock Performance

LRN traded down $0.54 during midday trading on Friday, hitting $70.91. 405,684 shares of the company were exchanged, compared to its average volume of 661,833. The company’s 50 day simple moving average is $64.94 and its 200 day simple moving average is $61.40. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.78 and a beta of 0.26. Stride, Inc. has a 1-year low of $35.61 and a 1-year high of $73.32. The company has a current ratio of 4.29, a quick ratio of 4.21 and a debt-to-equity ratio of 0.40.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.13. The company had revenue of $520.84 million during the quarter, compared to the consensus estimate of $507.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. Stride’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, sell-side analysts predict that Stride, Inc. will post 4.55 earnings per share 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.