Retirement Planning Co of New England Inc. Takes Position in Stride, Inc. $LRN

Retirement Planning Co of New England Inc. purchased a new stake in Stride, Inc. (NYSE:LRN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,130 shares of the company’s stock, valued at approximately $333,000.

A number of other hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its position in shares of Stride by 1.3% in the third quarter. Invesco Ltd. now owns 1,805,508 shares of the company’s stock valued at $268,912,000 after buying an additional 23,488 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Stride by 37.2% in the third quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock valued at $225,060,000 after buying an additional 410,029 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Stride by 325.0% in the fourth quarter. SG Americas Securities LLC now owns 556,452 shares of the company’s stock valued at $36,130,000 after buying an additional 425,524 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Stride by 30.9% in the third quarter. Wellington Management Group LLP now owns 511,820 shares of the company’s stock valued at $76,230,000 after buying an additional 120,898 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Stride by 1.7% in the third quarter. Northern Trust Corp now owns 459,381 shares of the company’s stock valued at $68,420,000 after buying an additional 7,635 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Down 3.5%

Shares of NYSE:LRN opened at $98.41 on Friday. 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, Inc. has a 52-week low of $60.61 and a 52-week high of $171.17. The stock’s fifty day simple moving average is $88.13 and its 200-day simple moving average is $85.18. The company has a market capitalization of $4.19 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.63 and a beta of 0.05.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. Canaccord Genuity Group restated a “buy” rating and issued a $125.00 price objective on shares of Stride in a research report on Wednesday, January 28th. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Finally, Barrington Research restated an “outperform” rating and issued a $125.00 price objective on shares of Stride in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $109.75.

About Stride

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.