Victory Capital Management Inc. Buys 347,564 Shares of Stride, Inc. (NYSE:LRN)

Victory Capital Management Inc. raised its stake in Stride, Inc. (NYSE:LRN) by 72.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 827,505 shares of the company’s stock after acquiring an additional 347,564 shares during the period. Victory Capital Management Inc.’s holdings in Stride were worth $70,594,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mendota Financial Group LLC bought a new stake in shares of Stride in the third quarter worth about $86,000. nVerses Capital LLC purchased a new stake in Stride in the 2nd quarter worth approximately $78,000. Motco bought a new stake in shares of Stride in the 1st quarter worth approximately $74,000. EntryPoint Capital LLC purchased a new position in shares of Stride during the first quarter valued at approximately $77,000. Finally, GAMMA Investing LLC raised its holdings in shares of Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after acquiring an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction on Friday, October 25th. The stock was 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. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

LRN has been the topic of a number of research analyst reports. Barrington Research boosted their price objective 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. Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Citigroup raised their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets raised their target price on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Stride Stock Performance

Stride stock opened at $99.65 on Friday. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $103.98. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.34 billion, a P/E ratio of 18.12, a PEG ratio of 0.77 and a beta of 0.27. The stock’s 50 day moving average is $84.01 and its 200 day moving average is $76.59.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.72. The firm had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. On average, equities research analysts predict that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

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.