Moran Wealth Management LLC Buys 1,728 Shares of Stride, Inc. (NYSE:LRN)

Moran Wealth Management LLC raised its stake in Stride, Inc. (NYSE:LRN) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,635 shares of the company’s stock after purchasing an additional 1,728 shares during the period. Moran Wealth Management LLC’s holdings in Stride were worth $737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System lifted its stake in shares of Stride by 15.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,014 shares of the company’s stock valued at $884,000 after buying an additional 1,900 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Stride by 12.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,202 shares of the company’s stock worth $265,000 after purchasing an additional 481 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Stride during the first quarter valued at approximately $555,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Stride by 5.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 57,725 shares of the company’s stock valued at $3,639,000 after purchasing an additional 2,847 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Stride in the first quarter worth $77,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on LRN shares. Citigroup boosted their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Barrington Research lifted their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group initiated coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. Finally, Canaccord Genuity Group boosted their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Stride has an average rating of “Moderate Buy” and an average target price of $90.17.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now directly owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Stride Stock Up 0.5 %

Shares of LRN opened at $103.35 on Friday. The business’s 50 day simple moving average is $85.87 and its 200-day simple moving average is $77.59. Stride, Inc. has a one year low of $54.81 and a one year high of $104.68. The company has a market capitalization of $4.50 billion, a P/E ratio of 18.79, a PEG ratio of 0.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts predict that Stride, Inc. will post 6.66 EPS 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.