Intech Investment Management LLC Invests $1.07 Million in Stride, Inc. (NYSE:LRN)

Intech Investment Management LLC acquired a new stake in Stride, Inc. (NYSE:LRN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,506 shares of the company’s stock, valued at approximately $1,067,000.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Stride by 795.5% during the second quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after acquiring an additional 10,254 shares during the period. Sanctuary Advisors LLC purchased a new stake in Stride during the 2nd quarter worth about $534,000. International Assets Investment Management LLC increased its holdings in Stride by 8,431.7% during the 3rd quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock worth $437,000 after purchasing an additional 5,059 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in Stride by 24.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after purchasing an additional 7,100 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Stride in the 1st quarter valued at about $5,402,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

NYSE LRN opened at $107.04 on Thursday. The firm has a market cap of $4.67 billion, a P/E ratio of 19.46, a P/E/G ratio of 0.80 and a beta of 0.27. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $108.48. The business’s 50-day moving average price is $87.74 and its 200 day moving average price is $78.58. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last announced its earnings results 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 return on equity of 21.23% and a net margin of 11.38%. The company had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same period last year, the business posted $0.11 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Stride, Inc. will post 6.66 earnings per share for the current year.

Analyst Ratings Changes

LRN has been the topic of several analyst reports. BMO Capital Markets raised their target price on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Citigroup lifted their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group raised their price objective on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Stride presently has an average rating of “Moderate Buy” and an average target price of $90.17.

Insiders Place Their Bets

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction that occurred on Friday, October 25th. The stock was 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 of the company’s stock, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by insiders.

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.