13,944 Shares in Stride, Inc. (NYSE:LRN) Bought by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new position in Stride, Inc. (NYSE:LRN) during the 3rd quarter, HoldingsChannel reports. The fund acquired 13,944 shares of the company’s stock, valued at approximately $1,190,000.

Several other institutional investors also recently modified their holdings of LRN. nVerses Capital LLC bought a new stake in shares of Stride in the second quarter worth $78,000. Mendota Financial Group LLC bought a new stake in shares of Stride in the third quarter worth $86,000. GAMMA Investing LLC boosted its position in Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after acquiring an additional 643 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Stride by 24.2% during the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after acquiring an additional 420 shares during the last quarter. Finally, Retirement Guys Formula LLC bought a new stake in Stride during the third quarter valued at $203,000. Institutional investors own 98.24% of the company’s stock.

Stride Price Performance

Shares of NYSE LRN opened at $106.29 on Wednesday. The firm’s 50-day moving average price is $92.56 and its 200-day moving average price is $81.23. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $112.80. The firm has a market capitalization of $4.63 billion, a P/E ratio of 19.33, a P/E/G ratio of 0.83 and a beta of 0.30. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The firm had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup upped their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets upped their price target on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barrington Research upped their price target on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group upped their price target on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Stride Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.