New York State Teachers Retirement System Sells 5,641 Shares of Stride, Inc. $LRN

New York State Teachers Retirement System decreased its stake in shares of Stride, Inc. (NYSE:LRN) by 22.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,409 shares of the company’s stock after selling 5,641 shares during the quarter. New York State Teachers Retirement System’s holdings in Stride were worth $1,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Divisadero Street Capital Management LP bought a new stake in Stride during the third quarter worth $55,852,000. Cat Rock Capital Management LP grew its position in shares of Stride by 22.8% in the 3rd quarter. Cat Rock Capital Management LP now owns 203,614 shares of the company’s stock valued at $30,326,000 after acquiring an additional 37,761 shares during the period. Vanguard Group Inc. grew its position in shares of Stride by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock valued at $317,090,000 after acquiring an additional 340,838 shares during the period. Merit Financial Group LLC increased its stake in shares of Stride by 35.3% during the 4th quarter. Merit Financial Group LLC now owns 40,383 shares of the company’s stock worth $2,622,000 after purchasing an additional 10,541 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of Stride by 59.3% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 369,928 shares of the company’s stock worth $24,019,000 after purchasing an additional 137,775 shares during the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

NYSE:LRN traded down $0.09 during mid-day trading on Friday, hitting $91.00. 266,405 shares of the stock were exchanged, compared to its average volume of 882,965. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.51 and a beta of 0.10. The firm’s 50-day simple moving average is $90.51 and its 200 day simple moving average is $85.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $171.17.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. The firm had revenue of $629.87 million for 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.02 EPS. As a group, equities analysts anticipate that Stride, Inc. will post 8.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LRN has been the subject of several recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a report on Wednesday. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research report on Monday, June 15th. Finally, William Blair restated an “outperform” rating on shares of Stride in a research note on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $109.75.

About Stride

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.