State of Alaska Department of Revenue cut its holdings in shares of Stride, Inc. (NYSE:LRN – Free Report) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,902 shares of the company’s stock after selling 1,157 shares during the period. State of Alaska Department of Revenue owned 0.06% of Stride worth $1,001,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. Russell Investments Group Ltd. increased its position in shares of Stride by 45.9% in the 1st quarter. Russell Investments Group Ltd. now owns 92,520 shares of the company’s stock valued at $3,631,000 after acquiring an additional 29,107 shares during the period. Pacer Advisors Inc. increased its position in shares of Stride by 6.6% in the 2nd quarter. Pacer Advisors Inc. now owns 427,565 shares of the company’s stock valued at $15,918,000 after acquiring an additional 26,582 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Stride in the 1st quarter valued at $2,102,000. Los Angeles Capital Management LLC acquired a new stake in Stride during the 1st quarter worth about $1,596,000. Finally, Alpha DNA Investment Management LLC acquired a new stake in Stride during the 1st quarter worth about $1,040,000. 98.24% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
LRN has been the topic of several analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $50.00 price target on shares of Stride in a research report on Wednesday, August 16th. Morgan Stanley increased their target price on shares of Stride from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 16th. BMO Capital Markets raised their price target on shares of Stride from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. Finally, StockNews.com initiated coverage on shares of Stride in a research note on Thursday, October 5th. They issued a “buy” rating on the stock.
Stride Stock Up 1.0 %
LRN stock opened at $45.79 on Tuesday. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 0.69 and a beta of 0.26. The company has a current ratio of 3.45, a quick ratio of 3.33 and a debt-to-equity ratio of 0.46. Stride, Inc. has a 12 month low of $30.66 and a 12 month high of $47.35. The firm has a 50-day moving average of $43.10 and a two-hundred day moving average of $40.66.
Stride (NYSE:LRN – Get Free Report) last released its quarterly earnings data on Tuesday, August 15th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. The company had revenue of $483.49 million during the quarter, compared to the consensus estimate of $460.70 million. Stride had a net margin of 6.90% and a return on equity of 14.60%. Stride’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, analysts forecast that Stride, Inc. will post 3.27 earnings per share for the current fiscal year.
Stride 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.
Recommended Stories
- Five stocks we like better than Stride
- Investing in the Best Airline Stocks
- Warren Buffett Stocks: What’s in Warren Buffett’s Portfolio?
- Large Cap Stock Definition and How to Invest
- Snack Maker Mondelez Int’l Is Down but Not Out
- How to Most Effectively Use the MarketBeat Earnings Screener
- Costco, Dollar General, Target Up As Market Turns Defensive
Want to see what other hedge funds are holding LRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stride, Inc. (NYSE:LRN – Free Report).
Receive News & Ratings for Stride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stride and related companies with MarketBeat.com's FREE daily email newsletter.
