Invenomic Capital Management LP Has $4.27 Million Stock Position in Stride, Inc. (NYSE:LRN)

Invenomic Capital Management LP raised its stake in Stride, Inc. (NYSE:LRN) by 15.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,739 shares of the company’s stock after buying an additional 9,038 shares during the period. Invenomic Capital Management LP owned about 0.16% of Stride worth $4,271,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LRN. William Blair Investment Management LLC purchased a new stake in Stride during the first quarter valued at about $111,377,000. Price T Rowe Associates Inc. MD raised its stake in Stride by 641.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock valued at $32,058,000 after buying an additional 439,911 shares during the last quarter. Norges Bank bought a new stake in shares of Stride during the 4th quarter valued at $25,594,000. Russell Investments Group Ltd. raised its stake in Stride by 147.8% during the 4th quarter. Russell Investments Group Ltd. now owns 312,044 shares of the company’s stock valued at $18,526,000 after purchasing an additional 186,099 shares during the period. Finally, Picton Mahoney Asset Management increased its stake in Stride by 2,185.2% in the 1st quarter. Picton Mahoney Asset Management now owns 62,273 shares of the company’s stock worth $3,928,000 after acquiring an additional 59,548 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Price Performance

NYSE:LRN traded up $1.68 during trading hours on Tuesday, reaching $76.04. 836,252 shares of the company traded hands, compared to its average volume of 692,104. Stride, Inc. has a 1-year low of $38.01 and a 1-year high of $76.19. The firm’s 50-day moving average is $69.58 and its 200-day moving average is $64.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.29 and a quick ratio of 4.21. The stock has a market cap of $3.29 billion, a P/E ratio of 17.85, a P/E/G ratio of 0.73 and a beta of 0.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barrington Research reiterated an “outperform” rating and issued a $75.00 target price on shares of Stride in a report on Wednesday, April 24th. BMO Capital Markets increased their price target on Stride from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Stride 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.