Private Advisor Group LLC Takes $2.84 Million Position in Stride, Inc. $LRN

Key Points

• Private Advisor Group LLC opened a new position in Stride, Inc., buying 32,215 shares worth about $2.84 million in the first quarter, according to its latest 13F filing.
• Other institutional investors also adjusted their stakes, and institutional ownership now stands at 98.24% of Stride’s shares, highlighting heavy professional ownership of the stock.
• Stride reported better-than-expected quarterly results, with EPS of $2.30 versus $2.21 estimated and revenue of $629.87 million, while analysts currently have a consensus Hold rating and a price target of $109.75.

Private Advisor Group LLC purchased a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,215 shares of the company's stock, valued at approximately $2,840,000. Private Advisor Group LLC owned 0.08% of Stride as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company's stock valued at $28,000 after acquiring an additional 85 shares during the period. Geneos Wealth Management Inc. raised its stake in Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after buying an additional 131 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Stride by 2.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 6,338 shares of the company's stock worth $412,000 after acquiring an additional 149 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its holdings in Stride by 3.8% in the third quarter. Measured Wealth Private Client Group LLC now owns 4,619 shares of the company's stock worth $688,000 after acquiring an additional 169 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Stride in the second quarter valued at approximately $25,000. 98.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRN. William Blair reiterated an "outperform" rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings restated a "hold (c)" rating on shares of Stride in a research note on Friday, April 10th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Stride in a research note on Monday, June 15th. Finally, Barrington Research reiterated an "outperform" rating and set a $125.00 price objective on shares of Stride in a report on Thursday, April 16th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $109.75.

Stride Stock Performance

NYSE LRN opened at $91.06 on Friday. The company's 50 day moving average is $90.60 and its 200-day moving average is $85.23. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.87 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.50 and a beta of 0.10.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.21 by $0.09. Stride had a net margin of 12.15% and a return on equity of 25.20%. The company had revenue of $629.87 million during the quarter, compared to the consensus estimate of $629.69 million. During the same period last year, the firm earned $2.02 EPS. Stride's revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts predict that Stride, Inc. will post 8.21 earnings per share for the current year.

Stride Company 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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