Cornerstone Investment Partners LLC Takes Position in Stride, Inc. (NYSE:LRN)

Cornerstone Investment Partners LLC bought a new stake in shares of Stride, Inc. (NYSE:LRN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,744 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds have also recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Stride in the 4th quarter worth about $1,134,000. Daiwa Securities Group Inc. increased its position in shares of Stride by 13.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,760 shares of the company’s stock valued at $104,000 after purchasing an additional 215 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Stride during the 4th quarter valued at about $505,000. Strs Ohio purchased a new stake in shares of Stride during the 4th quarter valued at about $47,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Stride during the 4th quarter valued at about $1,181,000. Institutional investors own 98.24% of the company’s stock.

Stride Trading Down 1.3 %

LRN stock opened at $56.51 on Friday. Stride, Inc. has a 1-year low of $35.61 and a 1-year high of $69.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.52 and a quick ratio of 4.44. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.66 and a beta of 0.26. The business has a 50 day simple moving average of $60.38 and a two-hundred day simple moving average of $57.89.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.23. Stride had a return on equity of 17.77% and a net margin of 8.80%. The business had revenue of $504.87 million during the quarter, compared to the consensus estimate of $498.05 million. During the same period in the prior year, the company posted $1.19 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts anticipate that Stride, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on LRN. Wedbush reaffirmed an “outperform” rating on shares of Stride in a research report on Wednesday, January 24th. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Citigroup increased their target price on shares of Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 29th. BMO Capital Markets increased their target price on shares of Stride from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Morgan Stanley increased their target price on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.75.

Stride Company 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.