Divisadero Street Capital Management LP Makes New $55.85 Million Investment in Stride, Inc. $LRN

Divisadero Street Capital Management LP bought a new position in shares of Stride, Inc. (NYSE:LRN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 375,000 shares of the company’s stock, valued at approximately $55,852,000. Stride comprises approximately 2.4% of Divisadero Street Capital Management LP’s investment portfolio, making the stock its 10th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in Stride in the second quarter valued at approximately $25,000. Financial Management Professionals Inc. acquired a new position in shares of Stride during the 3rd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after buying an additional 85 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Stride during the 2nd quarter valued at approximately $30,000. Finally, Toth Financial Advisory Corp grew its stake in Stride by 1,566.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 200 shares of the company’s stock valued at $30,000 after acquiring an additional 188 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Wall Street Analyst Weigh In

LRN has been the subject of a number of research analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Wall Street Zen cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Canaccord Genuity Group restated a “buy” rating and set a $125.00 price target on shares of Stride in a research report on Wednesday, January 28th. Morgan Stanley decreased their price target on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Stride has an average rating of “Hold” and an average price target of $109.75.

Stride Trading Up 0.5%

Shares of LRN opened at $84.25 on Monday. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $171.17. The stock has a market cap of $3.59 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.50 and a beta of 0.12. The firm’s fifty day moving average is $80.00 and its two-hundred day moving average is $96.78. The company has a quick ratio of 7.19, a current ratio of 7.27 and a debt-to-equity ratio of 0.31.

Stride Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.