Victory Capital Management Inc. Sells 1,874 Shares of Stride, Inc. (NYSE:LRN)

Victory Capital Management Inc. lowered its stake in Stride, Inc. (NYSE:LRN) by 7.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,984 shares of the company’s stock after selling 1,874 shares during the quarter. Victory Capital Management Inc. owned 0.05% of Stride worth $856,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Stride by 0.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,169 shares of the company’s stock valued at $1,223,000 after buying an additional 283 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Stride by 51.7% during the first quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the company’s stock valued at $40,000 after buying an additional 346 shares during the period. FMR LLC raised its holdings in shares of Stride by 0.4% during the second quarter. FMR LLC now owns 84,342 shares of the company’s stock valued at $3,441,000 after acquiring an additional 346 shares in the last quarter. CenterBook Partners LP lifted its stake in Stride by 3.4% in the first quarter. CenterBook Partners LP now owns 11,215 shares of the company’s stock worth $440,000 after acquiring an additional 366 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Stride by 3.3% in the first quarter. Arizona State Retirement System now owns 11,845 shares of the company’s stock valued at $465,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Price Performance

Shares of NYSE:LRN opened at $54.97 on Wednesday. The firm’s 50 day moving average price is $45.28 and its 200-day moving average price is $41.54. The company has a quick ratio of 3.54, a current ratio of 3.61 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.36 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 0.68 and a beta of 0.26. Stride, Inc. has a twelve month low of $30.66 and a twelve month high of $55.74.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.50. The business had revenue of $480.18 million for the quarter, compared to analysts’ expectations of $456.24 million. Stride had a net margin of 8.16% and a return on equity of 16.94%. Equities research analysts expect that Stride, Inc. will post 3.98 EPS for the current year.

Insider Activity

In related news, EVP Vincent Mathis sold 10,587 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $53.81, for a total value of $569,686.47. Following the completion of the sale, the executive vice president now directly owns 42,193 shares of the company’s stock, valued at approximately $2,270,405.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James Jeaho Rhyu sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $50.56, for a total value of $1,264,000.00. Following the transaction, the chief executive officer now directly owns 587,475 shares in the company, valued at $29,702,736. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vincent Mathis sold 10,587 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $53.81, for a total value of $569,686.47. Following the completion of the transaction, the executive vice president now directly owns 42,193 shares of the company’s stock, valued at approximately $2,270,405.33. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

LRN has been the subject of several research analyst reports. Barrington Research raised their target price on shares of Stride from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Morgan Stanley raised their price objective on Stride from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 25th. StockNews.com assumed coverage on shares of Stride in a research note on Thursday, October 5th. They set a “buy” rating for the company. Finally, BMO Capital Markets raised their price objective on Stride from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.