Stride, Inc. $LRN is Systematic Financial Management LP's 10th Largest Position

Key Points

• Systematic Financial Management LP reduced its stake in Stride, Inc. by 4.1%, now holding 373,074 shares valued at approximately $47.19 million, making it the firm's 10th largest position.
• The CEO of Stride, James Jeaho Rhyu, sold 13,961 shares for over $2.27 million, decreasing their ownership share by 1.94% while still retaining 706,353 shares worth about $114.9 million.
• Stride reported a quarterly earnings per share of $2.29, exceeding analyst expectations and reflecting a 22.4% revenue growth year-over-year.

Systematic Financial Management LP lessened its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 373,074 shares of the company's stock after selling 15,977 shares during the quarter. Stride accounts for about 1.3% of Systematic Financial Management LP's holdings, making the stock its 10th biggest position. Systematic Financial Management LP owned approximately 0.86% of Stride worth $47,194,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after purchasing an additional 160 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Stride in the 4th quarter valued at approximately $41,000. Harbour Investments Inc. boosted its holdings in Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after purchasing an additional 266 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Stride during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Insider Activity

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 706,353 shares of the company's stock, valued at $114,895,378.98. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barrington Research reiterated an "outperform" rating and set a $170.00 price target on shares of Stride in a research report on Thursday, July 24th. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. William Blair restated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Morgan Stanley lifted their price objective on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Stride from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.40.

Stride Trading Up 0.0%

LRN traded up $0.05 during trading on Wednesday, hitting $169.84. The company's stock had a trading volume of 374,177 shares, compared to its average volume of 774,426. Stride, Inc. has a twelve month low of $63.25 and a twelve month high of $171.17. The firm's 50 day moving average price is $142.88 and its 200-day moving average price is $140.39. The stock has a market cap of $7.41 billion, a PE ratio of 28.21, a PEG ratio of 0.98 and a beta of 0.10. 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 announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same period in the previous year, the company earned $1.42 EPS. The business's quarterly revenue was up 22.4% compared to the same quarter last year. On average, analysts expect that Stride, Inc. will post 6.67 earnings per share for the current 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.