Algert Global LLC Grows Stock Position in Stride, Inc. $LRN

Key Points

• Algert Global increased its Stride position by 24% in the second quarter, owning 200,738 shares worth approximately $17.3 million. Institutional investors and hedge funds collectively hold 98.24% of Stride’s outstanding shares.
• Stride reported quarterly earnings of $2.12 per share, exceeding analysts’ $1.64 estimate, while revenue of $636.1 million also topped expectations. However, revenue declined 2.7% year over year.
• Analyst sentiment remains cautious: Stride has an overall “Hold” rating, with two Buy ratings and five Holds, and an average price target of $109.75.

Algert Global LLC grew its position in Stride, Inc. (NYSE:LRN - Free Report) by 24.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,738 shares of the company's stock after acquiring an additional 38,821 shares during the period. Algert Global LLC owned about 0.48% of Stride worth $17,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LRN. OMERS ADMINISTRATION Corp acquired a new position in shares of Stride during the 2nd quarter worth $725,000. Sanctuary Advisors LLC purchased a new stake in Stride during the second quarter worth about $212,000. Kendall Capital Management acquired a new position in Stride during the second quarter worth about $2,294,000. Quantbot Technologies LP acquired a new position in Stride during the second quarter worth about $1,619,000. Finally, Evolve Private Wealth LLC purchased a new position in Stride in the second quarter valued at about $607,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Price Performance

Shares of NYSE:LRN opened at $85.08 on Tuesday. The company has a market cap of $3.54 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.49 and a beta of 0.11. The business has a fifty day simple moving average of $85.62 and a 200-day simple moving average of $88.38. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17. The company has a quick ratio of 5.81, a current ratio of 5.94 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.48. The business had revenue of $636.06 million during the quarter, compared to the consensus estimate of $626.52 million. Stride had a return on equity of 23.49% and a net margin of 13.43%.The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. Equities research analysts forecast that Stride, Inc. will post 8.62 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on LRN. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stride in a research note on Wednesday, July 8th. BMO Capital Markets reiterated a "market perform" rating on shares of Stride in a research report on Monday, June 15th. Finally, William Blair lowered Stride from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average 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.

Want to see what other hedge funds are holding LRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stride, Inc. (NYSE:LRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source