Stride, Inc. $LRN Shares Sold by Westover Capital Advisors LLC

Key Points

• Westover Capital Advisors LLC cut its Stride position by 88.8% in the first quarter, selling 33,112 shares and leaving it with 4,177 shares worth about $368,000.
• Stride reported better-than-expected quarterly earnings, posting $2.30 EPS versus $2.21 expected, while revenue came in essentially in line at $629.87 million and rose 2.7% year over year.
• Analyst sentiment remains mixed: the stock has an average rating of Hold with an average price target of $109.75, though some firms, including Barrington Research and William Blair, still rate it Outperform/Buy.

Westover Capital Advisors LLC reduced its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 88.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,177 shares of the company's stock after selling 33,112 shares during the period. Westover Capital Advisors LLC's holdings in Stride were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRN. Sanctuary Advisors LLC acquired a new stake in shares of Stride during the first quarter valued at about $323,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Stride by 33.4% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,141 shares of the company's stock valued at $541,000 after purchasing an additional 1,537 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Stride by 40.8% in the first quarter. Principal Financial Group Inc. now owns 1,034,047 shares of the company's stock valued at $91,172,000 after purchasing an additional 299,756 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Stride by 18,660.7% in the 1st quarter. Fifth Third Bancorp now owns 54,406 shares of the company's stock valued at $4,797,000 after purchasing an additional 54,116 shares in the last quarter. Finally, American Trust acquired a new position in shares of Stride in the 1st quarter valued at approximately $203,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

NYSE:LRN opened at $83.79 on Thursday. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 0.49 and a beta of 0.10. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17. The company has a 50-day moving average of $90.08 and a 200-day moving average of $85.87.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.09. The company had revenue of $629.87 million during the quarter, compared to the consensus estimate of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.02 EPS. Analysts forecast that Stride, Inc. will post 8.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LRN shares. Barrington Research reissued an "outperform" rating and set a $125.00 price objective on shares of Stride in a report on Thursday, April 16th. BMO Capital Markets reiterated a "market perform" rating on shares of Stride in a research note on Monday, June 15th. William Blair reaffirmed an "outperform" rating on shares of Stride in a report on Monday, June 15th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Stride in a research report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $109.75.

Stride Company 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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