Palisade Capital Management LP Makes New $3.61 Million Investment in Stride, Inc. $LRN

Palisade Capital Management LP purchased a new stake in Stride, Inc. (NYSE:LRN) during the second quarter, HoldingsChannel reports. The institutional investor purchased 41,872 shares of the company’s stock, valued at approximately $3,611,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC raised 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 acquiring an additional 11,481 shares during the period. NewEdge Advisors LLC raised its position in shares of Stride by 80.9% in the first quarter. NewEdge Advisors LLC now owns 5,124 shares of the company’s stock valued at $648,000 after buying an additional 2,291 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Stride by 12.4% during the 1st quarter. Empowered Funds LLC now owns 18,202 shares of the company’s stock valued at $2,303,000 after acquiring an additional 2,008 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Stride by 31.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company’s stock worth $17,009,000 after buying an additional 32,470 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after buying an additional 131 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a research report on Monday, June 15th. William Blair downgraded shares of Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $109.75.

Stride Stock Up 0.6%

LRN stock opened at $85.61 on Wednesday. The firm has a 50-day moving average price of $85.66 and a 200-day moving average price of $88.38. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17. The company has a current ratio of 5.94, a quick ratio of 5.81 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.56 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 0.49 and a beta of 0.11.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, August 4th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.48. The business had revenue of $636.06 million during the quarter, compared to analysts’ expectations of $626.52 million. Stride had a net margin of 13.43% and a return on equity of 23.49%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 EPS. As a group, equities research analysts anticipate that Stride, Inc. will post 8.62 EPS for the current fiscal year.

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.