Bastion Asset Management Inc. Takes Position in Stride, Inc. $LRN

Bastion Asset Management Inc. purchased a new stake in shares of Stride, Inc. (NYSE:LRN) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 67,686 shares of the company’s stock, valued at approximately $5,878,000. Stride accounts for about 1.8% of Bastion Asset Management Inc.’s holdings, making the stock its 24th largest position. Bastion Asset Management Inc. owned approximately 0.16% of Stride as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Stride by 78.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after purchasing an additional 85 shares during the period. Geneos Wealth Management Inc. lifted its position in Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after buying an additional 131 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Stride by 2.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 6,338 shares of the company’s stock valued at $412,000 after buying an additional 149 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Stride during the 2nd quarter valued at $25,000. Finally, Rezny Wealth Management Inc. boosted its stake in shares of Stride by 1.3% during the 4th quarter. Rezny Wealth Management Inc. now owns 14,361 shares of the company’s stock valued at $932,000 after buying an additional 190 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on LRN. Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Stride in a research report on Thursday, April 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research report on Monday, June 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of Stride in a research note on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Stride presently has a consensus rating of “Hold” and a consensus price target of $109.75.

Stride Stock Performance

LRN opened at $87.50 on Friday. 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 stock’s 50 day moving average price is $90.00 and its two-hundred day moving average price is $86.02. The firm has a market capitalization of $3.72 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.47 and a beta of 0.10. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17.

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

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.