Stride, Inc. $LRN Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors cut its Stride stake by 36.4% in the second quarter, selling 13,946 shares and ending with 24,375 shares valued at approximately $2.1 million.
• Other institutional investors increased their positions, and institutions and hedge funds collectively own 98.24% of Stride stock.
• Stride exceeded quarterly earnings expectations, reporting $2.12 in EPS versus the $1.64 consensus and $636.06 million in revenue. Analysts maintain a consensus “Hold” rating with a $95.75 target price.

HighTower Advisors LLC trimmed its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 36.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,375 shares of the company's stock after selling 13,946 shares during the quarter. HighTower Advisors LLC owned approximately 0.06% of Stride worth $2,102,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LRN. AQR Capital Management LLC raised its stake in shares of Stride by 67.3% in the 1st quarter. AQR Capital Management LLC now owns 28,547 shares of the company's stock valued at $3,611,000 after purchasing an additional 11,481 shares in the last quarter. NewEdge Advisors LLC grew its stake in Stride by 80.9% in the first quarter. NewEdge Advisors LLC now owns 5,124 shares of the company's stock worth $648,000 after purchasing an additional 2,291 shares in the last quarter. Empowered Funds LLC increased its holdings in Stride by 12.4% in the first quarter. Empowered Funds LLC now owns 18,202 shares of the company's stock valued at $2,303,000 after buying an additional 2,008 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Stride by 31.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company's stock valued at $17,009,000 after buying an additional 32,470 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Stride by 62.7% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock valued at $43,000 after buying an additional 131 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Trading Up 0.7%

Stride stock opened at $82.05 on Friday. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $161.81. The firm's 50-day moving average is $85.31 and its 200-day moving average is $88.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.81 and a current ratio of 5.94. The company has a market cap of $3.41 billion, a P/E ratio of 11.40, a PEG ratio of 0.48 and a beta of 0.11.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.48. The business had revenue of $636.06 million during the quarter, compared to the consensus estimate of $626.52 million. Stride had a net margin of 13.43% and a return on equity of 23.49%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. On average, equities analysts expect that Stride, Inc. will post 8.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

LRN has been the topic of a number of research analyst reports. William Blair downgraded Stride from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Stride in a research report on Wednesday, July 8th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $38.00 price target on shares of Stride in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Stride presently has an average rating of "Hold" and a consensus target price of $95.75.

Stride Company Profile

Stride, Inc is an education technology company that provides online and blended learning programs for students from kindergarten through grade 12. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instructional services and technology that support personalized learning.

Its offerings include full-time online public school programs, supplemental courses, career-focused learning and workforce-oriented education.

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