Stride, Inc. $LRN Shares Sold by Tidal Investments LLC

Key Points

• Tidal Investments reduced its Stride stake by 6.4% in the second quarter, selling 13,813 shares and retaining 202,828 shares valued at approximately $17.5 million. Institutional investors and hedge funds collectively own 98.24% of Stride.
• Stride’s latest quarterly results exceeded expectations, with EPS of $2.12 versus the $1.64 consensus and revenue of $636.1 million versus $626.5 million expected. However, revenue declined 2.7% year over year.
• LRN shares opened at $81.39, below the consensus analyst price target of $95.75. Analyst sentiment is mixed, with three Buy ratings and four Holds, resulting in an overall “Hold” consensus.

Tidal Investments LLC trimmed its position in Stride, Inc. (NYSE:LRN - Free Report) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,828 shares of the company's stock after selling 13,813 shares during the period. Tidal Investments LLC owned about 0.49% of Stride worth $17,492,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in Stride in the second quarter valued at $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company's stock valued at $28,000 after buying an additional 85 shares during the period. Geneos Wealth Management Inc. lifted its position in Stride by 62.7% during 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 in the last quarter. EverSource Wealth Advisors LLC lifted its position in Stride by 108.7% during the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company's stock valued at $38,000 after buying an additional 225 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Stride during the third quarter worth approximately $78,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Down 0.4%

LRN stock opened at $81.39 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.94 and a quick ratio of 5.81. The firm has a market cap of $3.38 billion, a PE ratio of 11.30, a P/E/G ratio of 0.47 and a beta of 0.11. The firm has a 50 day simple moving average of $85.48 and a 200 day simple moving average of $88.33. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $161.81.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. William Blair lowered shares of Stride from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. BMO Capital Markets restated an "outperform" rating and set a $38.00 target price on shares of Stride in a report on Wednesday. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stride in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Stride has an average rating of "Hold" and a consensus price target of $95.75.

Stride 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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