Stride, Inc. $LRN Shares Purchased by Duncan Williams Asset Management LLC

Key Points

• Duncan Williams Asset Management LLC increased its stake in Stride, Inc. by 41.4%, owning 6,242 shares valued at approximately $906,000 as of the latest SEC filing.
• CEO James Jeaho Rhyu sold 13,961 shares of Stride's stock for about $2.27 million, reducing his ownership by 1.94% to 706,353 shares.
• Stride's recent earnings report showed an EPS of $2.29, exceeding analysts' expectations, with significant revenue growth of 22.4% year-over-year.

Duncan Williams Asset Management LLC boosted its position in Stride, Inc. (NYSE:LRN - Free Report) by 41.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,242 shares of the company's stock after buying an additional 1,829 shares during the period. Duncan Williams Asset Management LLC's holdings in Stride were worth $906,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Inspire Investing LLC acquired a new position in Stride in the 1st quarter worth about $792,000. DAVENPORT & Co LLC purchased a new stake in shares of Stride in the first quarter valued at approximately $461,000. Swedbank AB raised its stake in shares of Stride by 5.4% during the 1st quarter. Swedbank AB now owns 1,009,726 shares of the company's stock worth $127,730,000 after buying an additional 52,000 shares during the period. United Services Automobile Association acquired a new position in shares of Stride during the 1st quarter worth approximately $326,000. Finally, Canandaigua National Bank & Trust Co. purchased a new position in shares of Stride during the 1st quarter valued at approximately $273,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Insider Buying and Selling at Stride

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

Stride Trading Down 1.1%

LRN opened at $143.66 on Monday. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.07. The company's 50 day simple moving average is $151.23 and its two-hundred day simple moving average is $144.46. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $171.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 EPS 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 firm had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same quarter last year, the firm earned $1.42 earnings per share. The business's revenue for the quarter was up 22.4% on a year-over-year basis. Analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a report on Saturday. Barrington Research reissued an "outperform" rating and set a $185.00 target price on shares of Stride in a research note on Tuesday, September 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Stride in a research report on Saturday, September 27th. 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 note on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $146.40.

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.

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