Kerrisdale Advisers LLC Sells 28,106 Shares of Stride, Inc. $LRN

Key Points

• Kerrisdale Advisers cut its Stride position by 49.2% in the second quarter, selling 28,106 shares and retaining 29,049 shares valued at approximately $2.5 million.
• Institutional investors own 98.24% of Stride’s stock, with several funds initiating or increasing positions during the quarter.
• Stride beat quarterly earnings expectations, reporting $2.12 in EPS versus $1.64 expected and $636.1 million in revenue, but revenue declined 2.7% year over year. Analysts maintain an average “Hold” rating with a $109.75 price target.

Kerrisdale Advisers LLC cut its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 49.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,049 shares of the company's stock after selling 28,106 shares during the period. Kerrisdale Advisers LLC owned 0.07% of Stride worth $2,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Two Sigma Securities LLC lifted its stake in Stride by 76.2% in the 2nd quarter. Two Sigma Securities LLC now owns 4,604 shares of the company's stock valued at $397,000 after purchasing an additional 1,991 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Stride during the second quarter worth approximately $452,000. Empowered Funds LLC acquired a new position in Stride during the second quarter worth approximately $2,385,000. Caitlin John LLC bought a new stake in Stride in the second quarter valued at approximately $49,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Stride in the second quarter valued at approximately $46,000. 98.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LRN shares. William Blair lowered Stride from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Stride in a report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stride in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Stride currently has an average rating of "Hold" and an average price target of $109.75.

Stride Stock Down 0.2%

Shares of LRN opened at $86.65 on Monday. The stock has a market capitalization of $3.60 billion, a PE ratio of 12.03, a P/E/G ratio of 0.50 and a beta of 0.11. The company has a current ratio of 5.94, a quick ratio of 5.81 and a debt-to-equity ratio of 0.29. The firm's 50 day moving average is $85.79 and its 200-day moving average is $88.34. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $166.93.

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. Equities research analysts forecast that Stride, Inc. will post 8.62 EPS for the current year.

About Stride

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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