Bastion Asset Management Inc. Cuts Stock Position in Strategic Education Inc. $STRA

Key Points

• Bastion Asset Management cut its stake in Strategic Education by 59.8% in the first quarter, ending with 28,627 shares worth about $2.33 million.
• Institutional ownership remains very high, with 93.27% of Strategic Education shares held by hedge funds and other institutions. Other firms, including Jane Street and First Trust Advisors, also increased their holdings.
• Analysts are mixed on STRA: the stock currently carries an average “Hold” rating, while the average target price is $88.67. Strategic Education also reported quarterly earnings and revenue below expectations, though it continues to pay a 3.1% dividend yield.

Bastion Asset Management Inc. decreased its position in shares of Strategic Education Inc. (NASDAQ:STRA - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,627 shares of the health services provider's stock after selling 42,582 shares during the period. Bastion Asset Management Inc. owned about 0.13% of Strategic Education worth $2,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Strategic Education by 3.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,195 shares of the health services provider's stock worth $1,360,000 after purchasing an additional 487 shares during the period. Jane Street Group LLC grew its holdings in shares of Strategic Education by 40.2% in the first quarter. Jane Street Group LLC now owns 43,433 shares of the health services provider's stock valued at $3,647,000 after purchasing an additional 12,444 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Strategic Education by 192.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,162 shares of the health services provider's stock valued at $99,000 after purchasing an additional 765 shares in the last quarter. First Trust Advisors LP increased its stake in Strategic Education by 20.0% during the 2nd quarter. First Trust Advisors LP now owns 24,657 shares of the health services provider's stock worth $2,099,000 after buying an additional 4,118 shares during the period. Finally, Jump Financial LLC purchased a new stake in Strategic Education during the 2nd quarter worth approximately $246,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on STRA shares. Weiss Ratings restated a "hold (c)" rating on shares of Strategic Education in a research note on Tuesday, April 21st. Zacks Research cut Strategic Education from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. BMO Capital Markets lifted their target price on Strategic Education from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Monday, July 6th. Truist Financial lowered their target price on Strategic Education from $85.00 to $80.00 and set a "hold" rating for the company in a research note on Monday, April 27th. Finally, Wall Street Zen downgraded Strategic Education from a "buy" rating to a "hold" rating in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $88.67.

Insiders Place Their Bets

In other Strategic Education news, Director Michael Thawley acquired 665 shares of the stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $72.71 per share, with a total value of $48,352.15. Following the transaction, the director owned 12,154 shares in the company, valued at $883,717.34. The trade was a 5.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christa Hokenson sold 2,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $80.00, for a total value of $160,000.00. Following the completion of the transaction, the insider owned 65,195 shares in the company, valued at approximately $5,215,600. The trade was a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is owned by company insiders.

Strategic Education Stock Up 2.5%

NASDAQ STRA opened at $77.69 on Friday. Strategic Education Inc. has a 52 week low of $69.70 and a 52 week high of $87.38. The firm has a 50 day moving average of $79.09 and a two-hundred day moving average of $80.41. The stock has a market capitalization of $1.76 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 0.70 and a beta of 0.50.

Strategic Education (NASDAQ:STRA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The health services provider reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $1.51 by ($0.09). The firm had revenue of $305.93 million during the quarter, compared to analyst estimates of $329.81 million. Strategic Education had a net margin of 10.21% and a return on equity of 8.78%. Strategic Education's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. On average, equities research analysts expect that Strategic Education Inc. will post 7.2 earnings per share for the current fiscal year.

Strategic Education Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 22nd were paid a $0.60 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 3.1%. Strategic Education's dividend payout ratio (DPR) is currently 42.40%.

About Strategic Education

Strategic Education, Inc is a publicly traded higher education services holding company headquartered in Herndon, Virginia. Through its primary operating subsidiaries, Strayer University and Capella University, the company delivers degree programs and professional development opportunities to working adults. Its offerings span undergraduate and graduate degrees, certificates, continuing education, and workforce training in fields such as business, technology, health services, education, and public administration.

Strayer University, with a network of physical campuses across the United States complemented by an online platform, provides associate’s through doctoral degrees designed to accommodate non-traditional students.

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