Fort Washington Investment Advisors Inc. OH Has $26.99 Million Stock Position in Stride, Inc. $LRN

Key Points

• Fort Washington Investment Advisors Inc. OH reduced its holdings in Stride, Inc. by 14.2% during the 2nd quarter, now owning 185,875 shares valued at approximately $26.99 million.
• STRIDE's CEO, James Jeaho Rhyu, sold 13,961 shares in August for over $2.27 million, resulting in a 1.94% decrease in ownership.
• Stride recently reported strong quarterly earnings with an EPS of $2.29, exceeding analyst estimates of $1.83, and a revenue increase of 22.4% compared to last year.

Fort Washington Investment Advisors Inc. OH cut its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 14.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,875 shares of the company's stock after selling 30,755 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.43% of Stride worth $26,987,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rezny Wealth Management Inc. lifted its position in shares of Stride by 0.6% during the 2nd quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company's stock valued at $2,055,000 after acquiring an additional 83 shares during the period. Vident Advisory LLC increased its stake in Stride by 2.9% in the first quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock valued at $372,000 after purchasing an additional 84 shares in the last quarter. Vestcor Inc boosted its position in shares of Stride by 4.6% during the 1st quarter. Vestcor Inc now owns 2,328 shares of the company's stock worth $294,000 after purchasing an additional 102 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock valued at $43,000 after buying an additional 131 shares during the period. Finally, First Horizon Advisors Inc. increased its position in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Insiders Place Their Bets

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the 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 completion of the transaction, the chief executive officer owned 706,353 shares in the company, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

LRN has been the subject of a number of research reports. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Barrington Research reissued an "outperform" rating and issued a $185.00 price target on shares of Stride in a research report on Tuesday, September 23rd. Finally, Morgan Stanley boosted their price target on shares of Stride from $148.00 to $159.00 and gave the company 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 issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $146.40.

Stride Price Performance

Shares of NYSE LRN opened at $148.12 on Monday. The company has a market capitalization of $6.46 billion, a PE ratio of 24.60, a PEG ratio of 0.84 and a beta of 0.22. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average price is $149.61 and its 200-day moving average price is $143.58. Stride, Inc. has a twelve month low of $63.25 and a twelve month high of $171.17.

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

About Stride

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.

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