Stride, Inc. $LRN Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has increased its stake in Stride, Inc. by 14.6%, now owning 41,028 shares valued at approximately $5.19 million.
• Stride reported a significant quarterly revenue increase of 22.4% year-over-year, with earnings per share of $2.29, surpassing analyst estimates of $1.83.
• Institutional investors dominate Stride's ownership, holding about 98.24% of the company's stock, highlighting strong institutional interest in the firm.

Intech Investment Management LLC raised its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 14.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 41,028 shares of the company's stock after acquiring an additional 5,218 shares during the period. Intech Investment Management LLC owned approximately 0.09% of Stride worth $5,190,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Congress Asset Management Co. grew its holdings in Stride by 102.2% during the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after buying an additional 591,208 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Stride by 14,892.4% in the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after purchasing an additional 367,545 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Stride by 120.6% in the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after purchasing an additional 332,098 shares in the last quarter. Nuveen LLC purchased a new position in shares of Stride in the first quarter valued at $38,835,000. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Stride in the first quarter valued at $38,598,000. Institutional investors own 98.24% of the company's stock.

Stride Stock Down 11.6%

Stride stock traded down $18.42 during trading hours on Monday, reaching $139.94. The stock had a trading volume of 3,153,035 shares, compared to its average volume of 552,315. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $171.17. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 0.92 and a beta of 0.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The business's 50 day moving average price is $148.09 and its 200-day moving average price is $142.66.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share 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%.The company's revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. Sell-side analysts anticipate that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on LRN shares. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Barrington Research lifted their target price on Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Morgan Stanley lifted their target price on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $146.40.

Insider Buying and Selling

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the transaction, the chief executive officer directly owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by corporate 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.