Renaissance Technologies LLC Purchases 119,591 Shares of Stride, Inc. (NYSE:LRN)

Posted by Defense World Staff on Mar 5th, 2023

Renaissance Technologies LLC raised its position in Stride, Inc. (NYSE:LRN – Get Rating) by 60.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 317,391 shares of the company’s stock after acquiring an additional 119,591 shares during the period. Renaissance Technologies LLC owned about 0.74% of Stride worth $13,340,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of LRN. UBS Group AG bought a new stake in Stride in the 2nd quarter valued at approximately $30,000. Quantbot Technologies LP bought a new stake in Stride in the 3rd quarter valued at approximately $33,000. Nisa Investment Advisors LLC lifted its stake in Stride by 228.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,150 shares of the company’s stock valued at $47,000 after acquiring an additional 800 shares in the last quarter. IFP Advisors Inc lifted its stake in Stride by 1,232.7% in the 3rd quarter. IFP Advisors Inc now owns 2,932 shares of the company’s stock valued at $67,000 after acquiring an additional 2,712 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its position in shares of Stride by 40.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,050 shares of the company’s stock worth $120,000 after purchasing an additional 591 shares during the last quarter. Institutional investors own 92.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price target on Stride from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Barrington Research reaffirmed an “outperform” rating and set a $50.00 price target on shares of Stride in a research report on Wednesday, January 25th. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a research report on Thursday, January 26th. Finally, Morgan Stanley boosted their price target on Stride from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 25th.

Stride Stock Up 0.7 %

LRN stock opened at $42.76 on Friday. The company has a current ratio of 3.73, a quick ratio of 3.63 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.84 billion, a PE ratio of 18.35, a PEG ratio of 0.84 and a beta of 0.35. Stride, Inc. has a 1-year low of $30.66 and a 1-year high of $47.35. The business’s 50 day simple moving average is $37.99 and its 200 day simple moving average is $37.82.

Stride (NYSE:LRN – Get Rating) last posted its earnings results on Tuesday, January 24th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. Stride had a return on equity of 12.30% and a net margin of 5.63%. The business had revenue of $458.44 million for the quarter, compared to analyst estimates of $443.23 million. During the same period in the previous year, the firm earned $1.00 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, research analysts anticipate that Stride, Inc. will post 2.51 EPS for the current year.

Insider Buying and Selling at Stride

In other Stride news, CEO James Jeaho Rhyu sold 35,531 shares of the company’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $40.49, for a total value of $1,438,650.19. Following the transaction, the chief executive officer now directly owns 515,920 shares of the company’s stock, valued at approximately $20,889,600.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Stride news, CEO James Jeaho Rhyu sold 35,531 shares of the company’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $40.49, for a total value of $1,438,650.19. Following the transaction, the chief executive officer now directly owns 515,920 shares of the company’s stock, valued at approximately $20,889,600.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vincent Mathis sold 8,160 shares of the company’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $40.65, for a total value of $331,704.00. Following the completion of the transaction, the executive vice president now directly owns 44,806 shares in the company, valued at $1,821,363.90. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Stride Profile

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Stride, Inc is a technology-based educational company, which engages in the provision of proprietary and third-party curriculum, software systems and educational services. It also offers online curriculum and career services to middle and high school students, under the Destinations Career Academy brand name.