Breach Inlet Capital Management LLC Increases Position in Stride, Inc. (NYSE:LRN)

Breach Inlet Capital Management LLC raised its position in shares of Stride, Inc. (NYSE:LRN) by 32.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,934 shares of the company’s stock after acquiring an additional 21,433 shares during the period. Stride makes up 6.4% of Breach Inlet Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Breach Inlet Capital Management LLC’s holdings in Stride were worth $9,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in Stride by 293.1% during the fourth quarter. Principal Financial Group Inc. now owns 866,182 shares of the company’s stock worth $90,024,000 after acquiring an additional 645,835 shares during the period. Norges Bank acquired a new stake in Stride in the 4th quarter worth $45,306,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Stride by 783.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company’s stock worth $47,095,000 after purchasing an additional 401,838 shares during the period. William Blair Investment Management LLC raised its position in shares of Stride by 18.0% during the fourth quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company’s stock valued at $256,397,000 after buying an additional 375,686 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company’s stock valued at $63,146,000 after buying an additional 332,098 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LRN. Canaccord Genuity Group lifted their target price on Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Barrington Research restated an “outperform” rating and set a $140.00 price objective on shares of Stride in a research report on Friday, March 14th. BMO Capital Markets raised their target price on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price target on shares of Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.17.

Stride Price Performance

Shares of Stride stock opened at $125.57 on Friday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.04 and a beta of 0.46. The firm’s 50-day moving average price is $131.27 and its two-hundred day moving average price is $109.09. 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, Inc. has a 1-year low of $56.17 and a 1-year high of $145.00.

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

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.