IHT Wealth Management LLC Invests $823,000 in Stride, Inc. (NYSE:LRN)

IHT Wealth Management LLC purchased a new position in shares of Stride, Inc. (NYSE:LRN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,646 shares of the company’s stock, valued at approximately $823,000.

Several other hedge funds have also recently bought and sold shares of LRN. Crossmark Global Holdings Inc. boosted its stake in shares of Stride by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company’s stock valued at $274,000 after purchasing an additional 121 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Stride by 1.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock worth $1,442,000 after acquiring an additional 217 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Stride by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock worth $813,000 after acquiring an additional 220 shares in the last quarter. Isthmus Partners LLC grew its stake in shares of Stride by 4.8% in the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock worth $339,000 after acquiring an additional 222 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Stride by 1.9% in the 3rd quarter. Amalgamated Bank now owns 12,528 shares of the company’s stock worth $1,069,000 after buying an additional 235 shares during the last quarter. 98.24% of the stock is owned by institutional investors.

Stride Price Performance

NYSE LRN opened at $110.44 on Friday. Stride, Inc. has a 52 week low of $54.81 and a 52 week high of $112.80. The firm has a market capitalization of $4.81 billion, a P/E ratio of 20.08, a PEG ratio of 0.83 and a beta of 0.30. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $91.66 and a 200-day moving average price of $80.58.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The business had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s revenue for the quarter 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 year.

Insider Transactions at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on LRN. Barrington Research upped their price objective on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group upped their price objective on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. BMO Capital Markets raised their target price on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup lifted their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.17.

About Stride

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.