Longboard Asset Management LP Buys New Stake in Stride, Inc. (NYSE:LRN)

Longboard Asset Management LP purchased a new stake in shares of Stride, Inc. (NYSE:LRN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,178 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRN. Marshall Wace LLP acquired a new stake in shares of Stride during the 2nd quarter valued at about $230,000. The Manufacturers Life Insurance Company boosted its position in Stride by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 23,851 shares of the company’s stock worth $1,681,000 after purchasing an additional 822 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Stride in the second quarter valued at approximately $534,000. SG Americas Securities LLC grew its holdings in Stride by 53.8% in the third quarter. SG Americas Securities LLC now owns 2,511 shares of the company’s stock valued at $214,000 after purchasing an additional 878 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Stride by 45.3% in the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after buying an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

NYSE:LRN opened at $137.61 on Tuesday. The company has a market cap of $5.99 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.01 and a beta of 0.32. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $138.43. The company’s 50-day moving average price is $111.19 and its 200-day moving average price is $93.05. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. On average, sell-side analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LRN has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Citigroup increased their price objective on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Canaccord Genuity Group boosted their target price on shares of Stride from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets raised their price target on shares of Stride from $122.00 to $134.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Barrington Research boosted their price objective on Stride from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.83.

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.