Algert Global LLC Has $8.54 Million Stock Position in Stride, Inc. $LRN

Key Points

• Algert Global LLC reduced its stake in Stride, Inc. by 12.8%, now owning approximately 67,484 shares valued at $8.5 million after selling nearly 10,000 shares in the first quarter.
• Stride reported strong quarterly earnings, with $2.29 EPS, exceeding estimates of $1.83, and revenue of $653.65 million, up 22.4% year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Stride, with an average price target of $143.40, reflecting optimistic growth expectations.

Algert Global LLC lessened its position in Stride, Inc. (NYSE:LRN - Free Report) by 12.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,484 shares of the company's stock after selling 9,941 shares during the period. Algert Global LLC owned about 0.16% of Stride worth $8,537,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alliance Wealth Advisors LLC UT acquired a new stake in shares of Stride in the 1st quarter valued at $274,000. Global Endowment Management LP bought a new stake in Stride during the 1st quarter worth about $503,000. Fox Run Management L.L.C. grew its holdings in Stride by 59.1% during the 1st quarter. Fox Run Management L.L.C. now owns 10,064 shares of the company's stock worth $1,273,000 after acquiring an additional 3,740 shares during the last quarter. Cookson Peirce & Co. Inc. bought a new stake in Stride during the 1st quarter worth about $821,000. Finally, LGT Fund Management Co Ltd. bought a new stake in Stride during the 1st quarter worth about $2,467,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Insiders Place Their Bets

In related news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total transaction 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 trade represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

LRN has been the topic of a number of research analyst reports. Canaccord Genuity Group increased their price objective on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Barrington Research reissued an "outperform" rating and set a $170.00 price objective on shares of Stride in a report on Thursday, July 24th. William Blair reissued an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Finally, Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

Stride Trading Down 0.1%

Stride stock traded down $0.2130 during midday trading on Wednesday, hitting $163.4070. 510,086 shares of the stock were exchanged, compared to its average volume of 751,898. The company has a fifty day simple moving average of $140.95 and a two-hundred day simple moving average of $139.60. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $164.41. The stock has a market capitalization of $7.13 billion, a PE ratio of 27.14, a P/E/G ratio of 0.96 and a beta of 0.10. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31.

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

About Stride

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.