VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.48 Million in Stride, Inc. $LRN

Key Points

• Virginia Retirement Systems acquired 28,810 Stride shares worth approximately $2.48 million, while institutional investors collectively own 98.24% of the company.
• Stride reported quarterly earnings of $2.12 per share, exceeding estimates of $1.64, and revenue of $636.06 million, though revenue declined 2.7% year over year.
• Shares recently traded at $81.39, down 0.4%; analysts have a consensus “Hold” rating and an average price target of $95.75.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,810 shares of the company's stock, valued at approximately $2,485,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.07% of Stride as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Stride by 78.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company's stock worth $28,000 after buying an additional 85 shares during the period. GAMMA Investing LLC increased its holdings in shares of Stride by 2.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,716 shares of the company's stock valued at $407,000 after acquiring an additional 128 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after acquiring an additional 131 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of Stride by 2.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 6,338 shares of the company's stock worth $412,000 after acquiring an additional 149 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Stride during the 2nd quarter worth $25,000. Institutional investors own 98.24% of the company's stock.

Stride Trading Down 0.4%

Stride stock opened at $81.39 on Friday. 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 stock has a market cap of $3.38 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 0.47 and a beta of 0.11. The stock has a 50-day moving average of $85.48 and a two-hundred day moving average of $88.33. Stride, Inc. has a one year low of $60.61 and a one year high of $161.81.

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

Wall Street Analyst Weigh In

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