Quantbot Technologies LP Invests $1.62 Million in Stride, Inc. $LRN

Key Points

• Quantbot Technologies LP initiated a $1.62 million position in Stride during the second quarter, purchasing 18,777 shares. Institutional investors collectively own 98.24% of the company.
• Stride exceeded quarterly earnings expectations, reporting $2.12 in EPS versus the $1.64 consensus estimate and revenue of $636.06 million. However, revenue declined 2.7% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from seven analysts and an average price target of $109.75, compared with shares recently trading near $85.08.

Quantbot Technologies LP bought a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,777 shares of the company's stock, valued at approximately $1,619,000.

Several other institutional investors also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. bought a new stake in Stride in the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings 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 purchasing an additional 85 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock valued at $43,000 after purchasing an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Stride by 108.7% in the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company's stock worth $38,000 after purchasing an additional 225 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Stride in the third quarter worth about $78,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Trading Up 0.9%

Shares of LRN stock opened at $85.08 on Tuesday. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17. 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 50 day simple moving average is $85.62 and its two-hundred day simple moving average is $88.38. The company has a market cap of $3.54 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.49 and a beta of 0.11.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.48. The firm had revenue of $636.06 million during the quarter, compared to analysts' expectations of $626.52 million. Stride had a return on equity of 23.49% and a net margin of 13.43%.The company's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. Research analysts predict that Stride, Inc. will post 8.62 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BMO Capital Markets reissued a "market perform" rating on shares of Stride in a research note on Monday, June 15th. William Blair cut Stride from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Stride in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Stride has a consensus rating of "Hold" and an average target price 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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