Granite Investment Partners LLC Takes $9.42 Million Position in Stride, Inc. $LRN

Granite Investment Partners LLC acquired a new position in shares of Stride, Inc. (NYSE:LRN) during the first quarter, Holdings Channel reports. The fund acquired 106,800 shares of the company’s stock, valued at approximately $9,417,000.

A number of other institutional investors have also added to or reduced their stakes in LRN. Norges Bank bought a new position in shares of Stride in the fourth quarter valued at $72,871,000. Morgan Stanley raised its holdings in shares of Stride by 98.1% in the 4th quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock worth $105,938,000 after acquiring an additional 808,141 shares during the last quarter. Barclays PLC lifted its position in Stride by 254.8% in the 4th quarter. Barclays PLC now owns 688,214 shares of the company’s stock valued at $44,686,000 after acquiring an additional 494,215 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Stride by 682.1% during the 4th quarter. Victory Capital Management Inc. now owns 562,346 shares of the company’s stock valued at $36,513,000 after purchasing an additional 490,445 shares during the last quarter. Finally, Nearwater Capital Markets Ltd acquired a new position in Stride during the 4th quarter valued at about $31,686,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of Stride in a research note on Monday, June 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a report on Monday, June 15th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $125.00 price target on shares of Stride in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $109.75.

Stride Stock Down 1.0%

LRN stock opened at $90.13 on Thursday. The stock has a fifty day moving average of $90.63 and a 200-day moving average of $85.06. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $171.17. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.51 and a beta of 0.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21.

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, beating analysts’ consensus estimates of $2.21 by $0.09. The business had revenue of $629.87 million for the quarter, compared to analysts’ expectations of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.02 EPS. As a group, equities research analysts predict 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.