Neo Ivy Capital Management Makes New $1.19 Million Investment in Stride, Inc. (NYSE:LRN)

Neo Ivy Capital Management acquired a new position in shares of Stride, Inc. (NYSE:LRN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,944 shares of the company’s stock, valued at approximately $1,190,000.

Several other hedge funds have also recently bought and sold shares of LRN. Geode Capital Management LLC raised its position in shares of Stride by 3.8% in the third quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock valued at $82,315,000 after buying an additional 35,349 shares in the last quarter. EWA LLC acquired a new stake in shares of Stride in the third quarter valued at approximately $235,000. MML Investors Services LLC acquired a new stake in shares of Stride in the third quarter valued at approximately $225,000. Zacks Investment Management raised its position in shares of Stride by 10.2% in the third quarter. Zacks Investment Management now owns 37,392 shares of the company’s stock valued at $3,190,000 after buying an additional 3,472 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Stride by 416.7% in the third quarter. Wellington Management Group LLP now owns 275,483 shares of the company’s stock valued at $23,501,000 after buying an additional 222,165 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Stride 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 sale, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

Stride Stock Down 1.5 %

Shares of LRN opened at $106.29 on Wednesday. Stride, Inc. has a one year low of $54.81 and a one year high of $112.80. The company has a market cap of $4.63 billion, a P/E ratio of 19.33, a P/E/G ratio of 0.83 and a beta of 0.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The firm has a 50 day simple moving average of $92.56 and a two-hundred day simple moving average of $81.23.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. The firm had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Research analysts forecast 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.