Wallace Advisory Group LLC Takes $332,000 Position in Stride, Inc. $LRN

Key Points

• Wallace Advisory Group LLC has acquired a new stake in Stride, Inc., purchasing 2,286 shares valued at approximately $332,000 during the second quarter.
• Several other hedge funds, including Larson Financial Group LLC and First Horizon Advisors Inc., significantly increased their holdings in Stride, with institutional investors owning 98.24% of the stock.
• Analyst ratings for Stride have varied recently, with Wall Street Zen downgrading the stock from "buy" to "hold," while Morgan Stanley and Barrington Research raised their price targets, contributing to an overall moderate buy rating.

Wallace Advisory Group LLC purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,286 shares of the company's stock, valued at approximately $332,000.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after purchasing an additional 160 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Stride by 374.6% during the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after purchasing an additional 266 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Stride during the 1st quarter worth approximately $43,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after purchasing an additional 131 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LRN has been the topic of several recent analyst reports. Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Morgan Stanley lifted their price target on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Weiss Ratings restated a "buy (b)" rating on shares of Stride in a research report on Wednesday, October 8th. Finally, Barrington Research restated an "outperform" rating and set a $185.00 price objective on shares of Stride in a research report on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Stride currently has an average rating of "Moderate Buy" and an average price target of $146.40.

Insider Transactions at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the transaction, the chief executive officer owned 706,353 shares in the company, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

Stride Stock Up 0.5%

Shares of NYSE:LRN opened at $145.73 on Tuesday. The business's 50 day simple moving average is $153.02 and its two-hundred day simple moving average is $145.76. The firm has a market cap of $6.36 billion, a P/E ratio of 24.21, a PEG ratio of 0.82 and a beta of 0.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. Stride, Inc. has a 52-week low of $63.36 and a 52-week high of $171.17.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.46. The business had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company's quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 earnings per share. As a group, research analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal 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.

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