Rice Hall James & Associates LLC Invests $37.86 Million in Stride, Inc. $LRN

Key Points

• Rice Hall James & Associates acquired 438,981 Stride shares worth approximately $37.86 million, making the position 1.8% of its portfolio and about 1.03% of Stride’s outstanding stock.
• Institutional ownership remains high at 98.24%, while analysts maintain a consensus “Hold” rating with a $109.75 price target; William Blair recently downgraded the stock to “Market Perform.”
• Stride beat quarterly expectations with EPS of $2.12 versus $1.64 expected and revenue of $636.06 million, although revenue declined 2.7% year over year. The stock opened at $83.63, well below its 52-week high of $171.17.

Rice Hall James & Associates LLC acquired a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 438,981 shares of the company's stock, valued at approximately $37,858,000. Stride accounts for 1.8% of Rice Hall James & Associates LLC's portfolio, making the stock its 11th largest position. Rice Hall James & Associates LLC owned about 1.03% of Stride as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LRN. Newbridge Financial Services Group Inc. acquired a new position in Stride in the 2nd quarter worth $25,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Stride by 78.7% in 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 period. Geneos Wealth Management Inc. raised its stake in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock valued at $43,000 after purchasing an additional 131 shares during the period. EverSource Wealth Advisors LLC lifted 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 valued at $38,000 after purchasing an additional 225 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Stride in the third quarter valued at about $78,000. 98.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Stride Stock Up 0.3%

Stride stock opened at $83.63 on Tuesday. The company has a current ratio of 5.94, a quick ratio of 5.81 and a debt-to-equity ratio of 0.29. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $171.17. The company has a fifty day simple moving average of $86.74 and a 200 day simple moving average of $88.40. The company has a market cap of $3.48 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 0.48 and a beta of 0.11.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source