Longboard Asset Management LP Buys Shares of 2,178 Stride, Inc. (NYSE:LRN)

Longboard Asset Management LP purchased a new stake in Stride, Inc. (NYSE:LRN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,178 shares of the company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in Stride during the second quarter worth $534,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Stride during the 3rd quarter worth $430,000. International Assets Investment Management LLC increased its position in shares of Stride by 8,431.7% during the 3rd quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock worth $437,000 after purchasing an additional 5,059 shares during the last quarter. Quest Partners LLC increased its position in shares of Stride by 20,248.8% during the 3rd quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock worth $712,000 after purchasing an additional 8,302 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Stride by 24.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after buying an additional 7,100 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Up 2.0 %

Shares of NYSE LRN opened at $137.61 on Tuesday. The stock has a market cap of $5.99 billion, a P/E ratio of 22.97, a PEG ratio of 1.01 and a beta of 0.32. The business’s fifty day simple moving average is $111.19 and its 200-day simple moving average is $93.05. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $138.43. 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 posted its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on LRN. Morgan Stanley increased their target price on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Citigroup boosted their target price on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barrington Research raised their price target on Stride from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group lifted their price objective on Stride from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

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.