Wellington Grp LLC Boosts Position in Stride, Inc. $LRN

Key Points

• Wellington Group LLC increased its Stride stake by 427.2% in the first quarter, holding 17,656 shares valued at approximately $1.56 million. Institutional investors collectively own 98.24% of the company.
• Analyst sentiment is largely neutral: Stride has an average rating of “Hold” and a consensus price target of $109.75, though ratings range from “Hold” to “Outperform.”
• Stride reported quarterly EPS of $2.30, beating estimates by $0.09, while revenue reached $629.87 million, up 2.7% year over year. Shares opened at $80.42, well below their 12-month high of $171.17.

Wellington Grp LLC raised its position in Stride, Inc. (NYSE:LRN - Free Report) by 427.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,656 shares of the company's stock after purchasing an additional 14,307 shares during the period. Wellington Grp LLC's holdings in Stride were worth $1,557,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Stride in the 2nd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company's stock valued at $28,000 after acquiring an additional 85 shares in the last quarter. Leonteq Securities AG purchased a new position in Stride during the 4th quarter valued at about $35,000. EverSource Wealth Advisors LLC raised its position in Stride by 108.7% during the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company's stock worth $38,000 after acquiring an additional 225 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Stride by 482.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company's stock worth $40,000 after acquiring an additional 511 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Analyst Ratings Changes

LRN has been the topic of several recent research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stride in a report on Wednesday, July 8th. BMO Capital Markets restated a "market perform" rating on shares of Stride in a research report on Monday, June 15th. William Blair lowered Stride from an "outperform" rating to a "market perform" rating in a research note on Thursday. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Stride currently has an average rating of "Hold" and a consensus target price of $109.75.

Stride Price Performance

NYSE:LRN opened at $80.42 on Friday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 0.47 and a beta of 0.10. 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 company's 50-day moving average is $89.79 and its two-hundred day moving average is $87.47. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17.

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

About Stride

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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