Granite Investment Partners LLC Makes New Investment in Stride, Inc. $LRN

Granite Investment Partners LLC bought a new position in Stride, Inc. (NYSE:LRN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 106,800 shares of the company’s stock, valued at approximately $9,417,000. Granite Investment Partners LLC owned about 0.25% of Stride at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Stride by 67.3% in the 1st quarter. AQR Capital Management LLC now owns 28,547 shares of the company’s stock valued at $3,611,000 after purchasing an additional 11,481 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Stride by 80.9% during the first quarter. NewEdge Advisors LLC now owns 5,124 shares of the company’s stock worth $648,000 after buying an additional 2,291 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Stride by 12.4% during the first quarter. Empowered Funds LLC now owns 18,202 shares of the company’s stock worth $2,303,000 after buying an additional 2,008 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Stride by 31.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company’s stock valued at $17,009,000 after acquiring an additional 32,470 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after acquiring an additional 131 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Price Performance

LRN stock opened at $90.13 on Thursday. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.51 and a beta of 0.10. The company’s fifty day simple moving average is $90.63 and its 200 day simple moving average is $85.06. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.09. The firm had revenue of $629.87 million during the quarter, compared to analyst estimates of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $2.02 EPS. On average, analysts expect that Stride, Inc. will post 8.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Stride in a research report on Friday, April 10th. Barrington Research reissued an “outperform” rating and set a $125.00 price target on shares of Stride in a research note on Thursday, April 16th. William Blair restated an “outperform” rating on shares of Stride in a report on Monday, June 15th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research note on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $109.75.

Stride Company 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.