Cynosure Group LLC Purchases New Shares in Stride, Inc. (NYSE:LRN)

Cynosure Group LLC acquired a new stake in Stride, Inc. (NYSE:LRN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,367 shares of the company’s stock, valued at approximately $373,000.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in 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 acquiring an additional 10,254 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Stride during the second quarter worth approximately $534,000. International Assets Investment Management LLC raised its position in shares of Stride by 8,431.7% in 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Stride by 24.6% in the third 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. Finally, DekaBank Deutsche Girozentrale bought a new position in Stride during the 1st quarter worth $5,402,000. Institutional investors own 98.24% of the company’s stock.

Stride Price Performance

LRN stock opened at $107.04 on Friday. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 0.80 and a beta of 0.27. 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 company has a 50 day simple moving average of $88.24 and a 200 day simple moving average of $78.78. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $108.48.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. Stride’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. Research analysts anticipate that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Insider Activity

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the transaction, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LRN. Canaccord Genuity Group lifted their price objective 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 shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barrington Research raised their target price 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 upped their price target on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Stride has an average rating of “Moderate Buy” and an average price target of $90.17.

Stride 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.