Loomis Sayles & Co. L P Takes Position in Stride, Inc. (NYSE:LRN)

Loomis Sayles & Co. L P bought a new position in Stride, Inc. (NYSE:LRN) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 246,677 shares of the company’s stock, valued at approximately $21,044,000. Loomis Sayles & Co. L P owned approximately 0.57% of Stride at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Stride by 795.5% during the second quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after purchasing an additional 10,254 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Stride in the 2nd quarter worth approximately $534,000. International Assets Investment Management LLC raised its position in shares of Stride by 8,431.7% during the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock valued at $437,000 after buying an additional 5,059 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Stride by 24.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock worth $3,071,000 after buying an additional 7,100 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Stride during the first quarter worth $5,402,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction 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. The trade was a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

LRN has been the topic of a number of research reports. Barrington Research lifted their price target on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Canaccord Genuity Group raised their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets upped their price objective on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Stride Stock Up 2.2 %

Shares of LRN opened at $108.44 on Wednesday. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $87.21 and a 200 day moving average of $78.32. The company has a market cap of $4.73 billion, a PE ratio of 19.72, a P/E/G ratio of 0.78 and a beta of 0.27. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $108.48.

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

Stride Company Profile

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.