Sei Investments Co. Grows Stake in Stride, Inc. $LRN

Key Points

• Sei Investments increased its Stride stake by 76.7% in the first quarter, bringing its holdings to 44,007 shares valued at approximately $3.88 million. Institutional investors collectively own 98.24% of Stride’s outstanding stock.
• Stride shares opened at $80.27, with a market capitalization of $3.41 billion and a 52-week trading range of $60.61 to $171.17. The company reported strong liquidity, including a current ratio of 5.94.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from seven analysts and an average price target of $109.75; ratings include two Buys and five Holds.

Sei Investments Co. increased its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 76.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,007 shares of the company's stock after purchasing an additional 19,106 shares during the quarter. Sei Investments Co. owned 0.10% of Stride worth $3,880,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of LRN. Vanguard Group Inc. boosted its position in shares of Stride by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company's stock worth $317,090,000 after buying an additional 340,838 shares in the last quarter. Merit Financial Group LLC increased its holdings in Stride by 35.3% during the 4th quarter. Merit Financial Group LLC now owns 40,383 shares of the company's stock valued at $2,622,000 after acquiring an additional 10,541 shares in the last quarter. Jennison Associates LLC purchased a new position in Stride during the 4th quarter valued at about $988,000. Maxi Investments CY Ltd acquired a new position in Stride during the fourth quarter worth about $1,000,000. Finally, Dimensional Fund Advisors LP raised its position in Stride by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company's stock worth $154,339,000 after acquiring an additional 90,851 shares during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Price Performance

LRN stock opened at $80.27 on Friday. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.48 and a beta of 0.11. The company has a quick ratio of 6.14, a current ratio of 5.94 and a debt-to-equity ratio of 0.29. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $171.17. The stock's fifty day simple moving average is $89.02 and its 200-day simple moving average is $87.91.

Wall Street Analysts Forecast Growth

LRN has been the topic of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Stride in a research report on Wednesday, July 8th. Barrington Research restated an "outperform" rating and set a $125.00 price objective on shares of Stride in a research report on Thursday, April 16th. William Blair lowered Stride from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Stride in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $109.75.

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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