Kendall Capital Management Acquires Shares of 26,602 Stride, Inc. $LRN

Kendall Capital Management bought a new position in shares of Stride, Inc. (NYSE:LRN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,602 shares of the company’s stock, valued at approximately $2,294,000.

Other large investors have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Stride in the 2nd quarter valued at $1,619,000. Evolve Private Wealth LLC bought a new stake in shares of Stride during the 2nd quarter worth $607,000. William Blair Investment Management LLC bought a new stake in shares of Stride during the 2nd quarter worth $71,036,000. Bard Associates Inc. acquired a new stake in Stride in the second quarter valued at about $88,000. Finally, JB Capital Partners LP acquired a new stake in Stride in the second quarter valued at about $3,018,400,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Performance

NYSE LRN opened at $84.13 on Friday. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 0.49 and a beta of 0.11. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17. The stock has a fifty day simple moving average of $85.59 and a 200 day simple moving average of $88.37. The company has a quick ratio of 5.81, a current ratio of 5.94 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.64 by $0.48. Stride had a return on equity of 23.49% and a net margin of 13.43%.The firm had revenue of $636.06 million for the quarter, compared to the consensus estimate of $626.52 million. During the same period in the previous year, the business earned $2.29 EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts expect that Stride, Inc. will post 8.62 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on LRN. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research note on Monday, June 15th. William Blair downgraded shares of Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.