Advisors Asset Management Inc. Sells 2,049 Shares of Stride, Inc. $LRN

Key Points

• Advisors Asset Management Inc. reduced its stake in Stride, Inc. by 73.2% in Q1, owning only 750 shares after selling 2,049 shares.
• CEO James Jeaho Rhyu sold 13,961 shares of Stride at approximately $162.66 per share, reducing his ownership by 1.94% to 706,353 shares.
• Stride's earnings report showed $2.29 earnings per share, exceeding analysts' estimates, and revenue increased by 22.4% year-over-year to $653.65 million.

Advisors Asset Management Inc. lowered its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 73.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 750 shares of the company's stock after selling 2,049 shares during the period. Advisors Asset Management Inc.'s holdings in Stride were worth $95,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vident Advisory LLC lifted its position in shares of Stride by 2.9% in the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock worth $372,000 after purchasing an additional 84 shares during the period. Vestcor Inc lifted its position in shares of Stride by 4.6% in the 1st quarter. Vestcor Inc now owns 2,328 shares of the company's stock worth $294,000 after purchasing an additional 102 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares during the period. Larson Financial Group LLC lifted its position in shares of Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after purchasing an additional 160 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Stride by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,111 shares of the company's stock worth $900,000 after purchasing an additional 164 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Down 11.6%

NYSE:LRN traded down $18.42 on Monday, reaching $139.94. 3,153,035 shares of the stock traded hands, compared to its average volume of 552,315. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 0.92 and a beta of 0.22. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17. The company's fifty day simple moving average is $148.09 and its 200 day simple moving average is $142.66.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. The business had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. Stride's revenue was up 22.4% compared to the same quarter last year. During the same period last year, the business earned $1.42 EPS. Equities analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LRN. Barrington Research raised their target price on shares of Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Morgan Stanley increased their price target on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Stride has an average rating of "Moderate Buy" and a consensus price target of $146.40.

Insider Activity

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the sale, the chief executive officer owned 706,353 shares of the company's stock, valued at $114,895,378.98. This trade represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by insiders.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.