Maryland State Retirement & Pension System Trims Position in Stride, Inc. (NYSE:LRN)

Maryland State Retirement & Pension System trimmed its stake in Stride, Inc. (NYSE:LRN) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,445 shares of the company’s stock after selling 456 shares during the period. Maryland State Retirement & Pension System’s holdings in Stride were worth $858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in LRN. McGlone Suttner Wealth Management Inc. bought a new position in Stride in the fourth quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new position in shares of Stride during the third quarter valued at $31,000. Strs Ohio bought a new stake in shares of Stride in the fourth quarter valued at about $47,000. GAMMA Investing LLC bought a new position in Stride during the 4th quarter worth about $65,000. Finally, Nisa Investment Advisors LLC increased its position in Stride by 156.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,310 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LRN. BMO Capital Markets increased their price objective on shares of Stride from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Barrington Research restated an “outperform” rating and issued a $75.00 price target on shares of Stride in a report on Wednesday, April 24th. Morgan Stanley boosted their price objective on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Finally, Citigroup raised their target price on shares of Stride from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Stride Trading Down 1.7 %

Shares of Stride stock opened at $71.50 on Friday. Stride, Inc. has a 12-month low of $35.61 and a 12-month high of $73.32. The firm’s 50 day simple moving average is $62.88 and its two-hundred day simple moving average is $60.00. The company has a current ratio of 4.29, a quick ratio of 4.21 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.77 and a beta of 0.26.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.13. The company had revenue of $520.84 million during the quarter, compared to analyst estimates of $507.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. Analysts predict that Stride, Inc. will post 4.55 EPS for the current year.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.