Stratos Wealth Partners LTD. Acquires New Shares in Stride, Inc. $LRN

Key Points

• Stratos Wealth Partners LTD. acquired 5,719 shares of Stride, Inc. valued at approximately $830,000 in Q2, reflecting a growing interest among institutional investors in the company.
• Research firms have mixed ratings on Stride, with Barrington Research maintaining an "outperform" rating and Morgan Stanley increasing their price target, indicating positive sentiment despite some downgrades.
• Stride reported strong quarterly earnings with an EPS of $2.29, significantly surpassing analysts' expectations, and demonstrated a 22.4% year-over-year revenue growth.

Stratos Wealth Partners LTD. purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,719 shares of the company's stock, valued at approximately $830,000.

A number of other large investors also recently bought and sold shares of the stock. Inspire Investing LLC acquired a new stake in shares of Stride during the first quarter valued at about $792,000. DAVENPORT & Co LLC acquired a new stake in Stride in the 1st quarter valued at approximately $461,000. Swedbank AB increased its holdings in Stride by 5.4% in the 1st quarter. Swedbank AB now owns 1,009,726 shares of the company's stock valued at $127,730,000 after purchasing an additional 52,000 shares during the last quarter. United Services Automobile Association acquired a new position in Stride during the first quarter worth $326,000. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Stride during the 1st quarter worth about $273,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on LRN. Barrington Research reaffirmed an "outperform" rating and issued a $185.00 target price on shares of Stride in a research report on Tuesday, September 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Stride in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Stride from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Finally, Morgan Stanley raised their price target on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $146.40.

Insider Activity at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the transaction, the chief executive officer owned 706,353 shares of the company's stock, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.00% of the company's stock.

Stride Stock Down 0.0%

LRN stock opened at $152.31 on Thursday. The company's 50 day moving average price is $152.79 and its 200 day moving average price is $145.85. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.86 and a beta of 0.07. Stride, Inc. has a fifty-two week low of $82.86 and a fifty-two week 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.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The firm's quarterly revenue was up 22.4% on a year-over-year basis. On average, equities research analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.