Burney Co. Reduces Stock Holdings in Stride, Inc. $LRN

Key Points

• Burney Co. cut its Stride stake by 84.7% in the first quarter, selling 27,644 shares and leaving it with 4,995 shares valued at about $440,000.
• Stride reported stronger-than-expected quarterly results, posting EPS of $2.30 versus estimates of $2.21 and revenue of $629.87 million, with revenue up 2.7% year over year.
• Analysts are split on the stock: the consensus rating is “Hold,” with an average price target of $109.75, though some firms maintain bullish “outperform” calls.

Burney Co. lowered its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 84.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,995 shares of the company's stock after selling 27,644 shares during the quarter. Burney Co.'s holdings in Stride were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Divisadero Street Capital Management LP purchased a new stake in Stride in the third quarter valued at $55,852,000. Cat Rock Capital Management LP grew its holdings in shares of Stride by 22.8% during the third quarter. Cat Rock Capital Management LP now owns 203,614 shares of the company's stock worth $30,326,000 after purchasing an additional 37,761 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Stride by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company's stock worth $317,090,000 after purchasing an additional 340,838 shares in the last quarter. Shannon River Fund Management LLC acquired a new stake in shares of Stride during the third quarter worth about $12,351,000. Finally, Merit Financial Group LLC lifted its holdings in shares of Stride by 35.3% in the 4th quarter. Merit Financial Group LLC now owns 40,383 shares of the company's stock valued at $2,622,000 after purchasing an additional 10,541 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Stock Up 1.3%

LRN opened at $91.06 on Friday. The business has a 50 day moving average price of $90.60 and a two-hundred day moving average price of $85.23. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.87 billion, a PE ratio of 14.05, a P/E/G ratio of 0.50 and a beta of 0.10. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.09. The company had revenue of $629.87 million during the quarter, compared to analysts' expectations of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. As a group, research analysts anticipate that Stride, Inc. will post 8.21 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRN. Barrington Research reissued an "outperform" rating and issued a $125.00 target price on shares of Stride in a research report on Thursday, April 16th. William Blair reaffirmed an "outperform" rating on shares of Stride in a research report on Monday, June 15th. BMO Capital Markets reiterated a "market perform" rating on shares of Stride in a research note on Monday, June 15th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Stride in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.

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