Kendall Capital Management Invests $2.29 Million in Stride, Inc. $LRN

Key Points

• Kendall Capital Management initiated a $2.29 million position in Stride, buying 26,602 shares, while institutional investors collectively own 98.24% of the company.
• Stride beat quarterly earnings expectations, reporting $2.12 in EPS versus the $1.64 consensus and revenue of $636.06 million versus $626.52 million expected. However, revenue declined 2.7% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $109.75; Stride shares recently traded at $84.13.

Kendall Capital Management bought a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 26,602 shares of the company's stock, valued at approximately $2,294,000. Kendall Capital Management owned about 0.06% of Stride at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Stride by 67.3% in the 1st quarter. AQR Capital Management LLC now owns 28,547 shares of the company's stock valued at $3,611,000 after purchasing an additional 11,481 shares during the period. NewEdge Advisors LLC increased its position in Stride by 80.9% during the 1st quarter. NewEdge Advisors LLC now owns 5,124 shares of the company's stock worth $648,000 after buying an additional 2,291 shares during the period. Empowered Funds LLC increased its position in Stride by 12.4% during the 1st quarter. Empowered Funds LLC now owns 18,202 shares of the company's stock worth $2,303,000 after buying an additional 2,008 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Stride by 31.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company's stock worth $17,009,000 after buying an additional 32,470 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after buying an additional 131 shares in the last quarter. Institutional investors own 98.24% of the company's stock.

Stride Price Performance

Stride stock opened at $84.13 on Friday. The firm has a market cap of $3.50 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.49 and a beta of 0.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.94 and a quick ratio of 5.81. The stock's fifty day moving average price is $85.59 and its two-hundred day moving average price is $88.37. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17.

Stride (NYSE:LRN - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.48. Stride had a return on equity of 23.49% and a net margin of 13.43%.The firm had revenue of $636.06 million during the quarter, compared to the consensus estimate of $626.52 million. During the same period in the prior year, the company posted $2.29 EPS. The company's revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Stride, Inc. will post 8.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the subject of a number of recent research reports. William Blair cut shares of Stride from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stride in a research report on Wednesday, July 8th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Stride in a research note on Monday, June 15th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $109.75.

Stride 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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