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

Easterly Investment Partners LLC bought a new position in shares of 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 institutional investor bought 24,823 shares of the company’s stock, valued at approximately $1,612,000. Easterly Investment Partners LLC owned about 0.06% of Stride as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Divisadero Street Capital Management LP purchased a new stake in Stride during the third quarter valued at $55,852,000. GW&K Investment Management LLC purchased a new stake in Stride during the third quarter valued at $17,277,000. William Blair Investment Management LLC raised its stake in Stride by 37.2% during 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 purchasing an additional 410,029 shares in the last quarter. Cat Rock Capital Management LP raised its stake in Stride by 22.8% during the third quarter. Cat Rock Capital Management LP now owns 203,614 shares of the company’s stock valued at $30,326,000 after purchasing an additional 37,761 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Stride by 176.5% during the third quarter. Federated Hermes Inc. now owns 19,961 shares of the company’s stock valued at $2,973,000 after purchasing an additional 12,743 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

LRN has been the topic of several recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $109.75.

Stride Stock Up 4.4%

LRN stock opened at $96.43 on Tuesday. The firm has a 50 day moving average of $91.34 and a 200 day moving average of $79.97. The stock has a market capitalization of $4.10 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.56 and a beta of 0.10. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17.

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

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.