HighTower Advisors LLC Has $5.82 Million Position in Stride, Inc. $LRN

Key Points

• HighTower Advisors LLC reduced its stake in Stride, Inc. by 36.6%, owning 45,999 shares after selling 26,606 shares during the first quarter.
• Stride reported $2.29 earnings per share for the last quarter, significantly exceeding the consensus estimate of $1.83, with a 22.4% year-over-year revenue increase.
• Canaccord Genuity Group and Morgan Stanley recently upgraded their price targets for Stride, with an average rating of "Moderate Buy" and a target price of approximately $143.40.

HighTower Advisors LLC trimmed its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 36.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,999 shares of the company's stock after selling 26,606 shares during the period. HighTower Advisors LLC owned approximately 0.11% of Stride worth $5,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mariner LLC lifted its holdings in Stride by 28.0% during the 4th quarter. Mariner LLC now owns 16,905 shares of the company's stock worth $1,757,000 after buying an additional 3,698 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Stride by 4,870.2% during the fourth quarter. NewEdge Advisors LLC now owns 2,833 shares of the company's stock worth $294,000 after acquiring an additional 2,776 shares during the last quarter. GeoWealth Management LLC bought a new position in Stride in the 4th quarter worth about $83,000. First Trust Advisors LP grew its holdings in Stride by 16.9% in the 4th quarter. First Trust Advisors LP now owns 100,356 shares of the company's stock worth $10,430,000 after buying an additional 14,501 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Stride by 4.6% in the 4th quarter. MetLife Investment Management LLC now owns 25,708 shares of the company's stock valued at $2,672,000 after acquiring an additional 1,133 shares during the period. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Stock Down 1.4%

Shares of LRN traded down $2.3950 during trading hours on Friday, reaching $165.3750. The company's stock had a trading volume of 739,772 shares, compared to its average volume of 754,639. The company has a 50 day moving average of $141.91 and a two-hundred day moving average of $140.01. 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 firm has a market cap of $7.22 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 0.98 and a beta of 0.10. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $169.87.

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

Analyst Ratings Changes

Several research firms have recently issued reports on LRN. Barrington Research reissued an "outperform" rating and issued a $170.00 price target on shares of Stride in a research note on Thursday, July 24th. William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group raised their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Stride presently has an average rating of "Moderate Buy" and an average target price of $143.40.

Insider Activity at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 706,353 shares in the company, valued at approximately $114,895,378.98. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

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.