HighTower Advisors LLC Lowers Position in Stride, Inc. $LRN

HighTower Advisors LLC lessened its position in Stride, Inc. (NYSE:LRN) by 36.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,718 shares of the company’s stock after selling 21,261 shares during the quarter. HighTower Advisors LLC owned approximately 0.09% of Stride worth $2,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GW&K Investment Management LLC bought a new position in Stride during the 3rd quarter valued at approximately $17,277,000. Divisadero Street Capital Management LP bought a new position in Stride during the 3rd quarter valued at approximately $55,852,000. William Blair Investment Management LLC increased its position in Stride by 37.2% during the 3rd quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock valued at $225,060,000 after buying an additional 410,029 shares in the last quarter. Cat Rock Capital Management LP increased its position in Stride by 22.8% during the 3rd quarter. Cat Rock Capital Management LP now owns 203,614 shares of the company’s stock valued at $30,326,000 after buying an additional 37,761 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in Stride by 176.5% during the 3rd quarter. Federated Hermes Inc. now owns 19,961 shares of the company’s stock valued at $2,973,000 after buying an additional 12,743 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LRN shares. Barrington Research reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Stride in a research report on Thursday, April 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Stride presently has an average rating of “Hold” and a consensus target price of $109.75.

Stride Stock Down 0.1%

Stride stock opened at $92.27 on Monday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.56 and a beta of 0.10. The stock has a fifty day simple moving average of $91.16 and a two-hundred day simple moving average of $79.76. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. The business had revenue of $629.87 million during the quarter, compared to analyst estimates of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 EPS. Equities analysts predict that Stride, Inc. will post 8.21 EPS for the current fiscal year.

Stride Company Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.