Posted by MarketBeat News on Jun 3rd, 2024
Nomura Asset Management Co. Ltd. trimmed its stake in Stride, Inc. (NYSE:LRN – Free Report) by 30.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,197 shares of the company’s stock after selling 945 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Stride were worth $130,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Sigma Planning Corp purchased a new stake in Stride during the third quarter valued at approximately $324,000. Banco Santander S.A. grew its stake in Stride by 11.5% during the 3rd quarter. Banco Santander S.A. now owns 22,318 shares of the company’s stock worth $1,005,000 after buying an additional 2,306 shares during the last quarter. Swiss National Bank increased its position in Stride by 0.8% during the 3rd quarter. Swiss National Bank now owns 89,900 shares of the company’s stock valued at $4,048,000 after buying an additional 700 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in Stride in the third quarter valued at about $263,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Stride by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 531,030 shares of the company’s stock worth $23,912,000 after acquiring an additional 8,754 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.
Stride Stock Performance
Shares of NYSE LRN opened at $68.66 on Monday. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.75 and a beta of 0.27. Stride, Inc. has a 12 month low of $35.61 and a 12 month high of $73.32. The company has a 50 day simple moving average of $65.64 and a two-hundred day simple moving average of $61.89. The company has a current ratio of 4.29, a quick ratio of 4.21 and a debt-to-equity ratio of 0.40.
Stride (NYSE:LRN – Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.47 by $0.13. The company had revenue of $520.84 million for the quarter, compared to analyst estimates of $507.89 million. Stride had a net margin of 9.29% and a return on equity of 18.29%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 earnings per share. As a group, analysts predict that Stride, Inc. will post 4.55 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently commented 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 report on Thursday, April 25th. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, Barrington Research reissued an “outperform” rating and set a $75.00 price objective on shares of Stride in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.
Read Our Latest Report on Stride
Stride Company Profile
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.
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