Redhawk Wealth Advisors Inc. Acquires Shares of 5,588 Stride, Inc. $LRN

Key Points

• Redhawk Wealth Advisors Inc. invested approximately $811,000 in Stride, Inc. by acquiring 5,588 shares of the company during the 2nd quarter.
• Stride's CEO, James Jeaho Rhyu, sold 13,961 shares at a total value of approximately $2.27 million, reducing his ownership by 1.94%.
• Research analysts have upgraded their ratings for Stride, transitioning from a "hold" rating to a "buy" rating, with a consensus target price of $146.40.

Redhawk Wealth Advisors Inc. purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,588 shares of the company's stock, valued at approximately $811,000.

Other hedge funds have also recently made changes to their positions in the company. Two Sigma Investments LP grew its position in Stride by 327.0% during the 4th quarter. Two Sigma Investments LP now owns 60,209 shares of the company's stock worth $6,258,000 after acquiring an additional 46,109 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Stride by 165.5% during the fourth quarter. Squarepoint Ops LLC now owns 134,598 shares of the company's stock valued at $13,989,000 after purchasing an additional 83,898 shares during the period. Vident Advisory LLC bought a new position in shares of Stride in the fourth quarter worth approximately $297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Stride by 0.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,985 shares of the company's stock worth $10,599,000 after buying an additional 383 shares during the period. Finally, Pacific Point Advisors LLC bought a new stake in Stride during the 4th quarter valued at $208,000. 98.24% of the stock is currently owned by institutional investors.

Insider Transactions at Stride

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LRN. Morgan Stanley raised their price target on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Barrington Research boosted their price target on Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $146.40.

Stride Trading Down 1.2%

Shares of NYSE LRN traded down $1.72 during midday trading on Tuesday, hitting $142.35. 106,551 shares of the company traded hands, compared to its average volume of 776,198. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $171.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. The stock has a 50-day moving average price of $148.64 and a 200 day moving average price of $142.85. The firm has a market cap of $6.21 billion, a P/E ratio of 23.68, a P/E/G ratio of 0.83 and a beta of 0.22.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business had revenue of $653.65 million for the quarter, compared to analysts' expectations of $626.23 million. During the same period in the previous year, the firm posted $1.42 EPS. The business's revenue was up 22.4% on a year-over-year basis. As a group, analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Stride Company Profile

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.