Erste Asset Management GmbH Cuts Stock Holdings in Stride, Inc. $LRN

Erste Asset Management GmbH reduced its position in shares of Stride, Inc. (NYSE:LRN) by 65.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,739 shares of the company’s stock after selling 42,290 shares during the period. Erste Asset Management GmbH owned 0.05% of Stride worth $1,513,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after buying an additional 85 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after acquiring an additional 131 shares in the last quarter. Measured Wealth Private Client Group LLC increased its holdings in Stride by 3.8% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 4,619 shares of the company’s stock worth $688,000 after buying an additional 169 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Stride during the 2nd quarter valued at about $25,000. Finally, Rezny Wealth Management Inc. grew its position in Stride by 1.3% in the 4th quarter. Rezny Wealth Management Inc. now owns 14,361 shares of the company’s stock worth $932,000 after purchasing an additional 190 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Stride Stock Up 2.7%

LRN opened at $99.77 on Thursday. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 0.59 and a beta of 0.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. The firm’s fifty day moving average is $93.09 and its 200 day moving average is $81.66. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $171.17.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. The firm 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 business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.02 earnings per share. On average, sell-side analysts forecast that Stride, Inc. will post 8.21 earnings per share 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.