SG Americas Securities LLC Lowers Stock Position in Stride, Inc. $LRN

SG Americas Securities LLC cut its holdings in Stride, Inc. (NYSE:LRN) by 98.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,239 shares of the company’s stock after selling 549,213 shares during the quarter. SG Americas Securities LLC’s holdings in Stride were worth $638,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Stride during the second quarter valued at $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after purchasing an additional 85 shares in the last quarter. Leonteq Securities AG purchased a new stake in Stride during the 4th quarter valued at about $35,000. Caitong International Asset Management Co. Ltd grew its position in Stride by 482.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 511 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after purchasing an additional 131 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Trading Up 1.0%

NYSE:LRN opened at $91.22 on Wednesday. The company has a market cap of $3.88 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.51 and a beta of 0.10. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $90.79 and a two-hundred day simple moving average of $84.89. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. The firm had revenue of $629.87 million for the quarter, compared to the consensus estimate 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 last year, the business posted $2.02 EPS. Research analysts forecast that Stride, Inc. will post 8.21 earnings per share for the current year.

Analysts Set New Price Targets

LRN has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. Barrington Research reiterated an “outperform” rating and set a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. William Blair restated an “outperform” rating on shares of Stride in a research note on Monday, June 15th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a report on Monday, June 15th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $109.75.

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.