Montanaro Asset Management Ltd Grows Holdings in Stride, Inc. (NYSE:LRN)

Montanaro Asset Management Ltd increased its stake in Stride, Inc. (NYSE:LRN) by 20.2% in the third quarter, Holdings Channel reports. The institutional investor owned 155,000 shares of the company’s stock after acquiring an additional 26,000 shares during the quarter. Stride accounts for about 2.4% of Montanaro Asset Management Ltd’s portfolio, making the stock its 18th largest position. Montanaro Asset Management Ltd’s holdings in Stride were worth $13,223,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Motco acquired a new stake in Stride during the first quarter valued at approximately $74,000. EntryPoint Capital LLC acquired a new stake in shares of Stride during the 1st quarter valued at approximately $77,000. nVerses Capital LLC bought a new position in Stride during the second quarter worth $78,000. Mendota Financial Group LLC acquired a new position in Stride in the third quarter worth $86,000. Finally, Advisors Asset Management Inc. increased its stake in Stride by 38.0% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after purchasing an additional 754 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the transaction, the director now owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. BMO Capital Markets lifted their target price on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group upped their price objective on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Stride currently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Stride Stock Performance

Shares of NYSE LRN opened at $101.88 on Friday. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $103.40. The company has a market cap of $4.44 billion, a PE ratio of 18.52, a P/E/G ratio of 0.75 and a beta of 0.27. The stock has a 50 day simple moving average of $82.41 and a 200-day simple moving average of $75.66. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, equities research analysts forecast that Stride, Inc. will post 6.66 EPS for the current year.

Stride Company Profile

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.