Sigma Planning Corp Sells 3,100 Shares of Stride, Inc. (NYSE:LRN)

Sigma Planning Corp reduced its holdings in shares of Stride, Inc. (NYSE:LRN) by 43.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,100 shares of the company’s stock after selling 3,100 shares during the quarter. Sigma Planning Corp’s holdings in Stride were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of LRN. SG Capital Management LLC lifted its holdings in Stride by 348.7% during the third quarter. SG Capital Management LLC now owns 563,218 shares of the company’s stock worth $25,362,000 after acquiring an additional 437,685 shares during the period. Cooper Creek Partners Management LLC lifted its holdings in Stride by 89.1% during the third quarter. Cooper Creek Partners Management LLC now owns 472,934 shares of the company’s stock worth $21,296,000 after acquiring an additional 222,866 shares during the period. Wellington Management Group LLP lifted its holdings in Stride by 48.3% during the third quarter. Wellington Management Group LLP now owns 325,831 shares of the company’s stock worth $14,672,000 after acquiring an additional 106,091 shares during the period. Nordea Investment Management AB bought a new stake in Stride during the third quarter worth $3,289,000. Finally, Blair William & Co. IL purchased a new stake in Stride in the third quarter worth $3,093,000. 98.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LRN has been the subject of a number of recent research reports. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup raised their target price on Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Barrington Research reissued an “outperform” rating and issued a $75.00 target price on shares of Stride in a research report on Wednesday, April 24th. BMO Capital Markets raised their target price on Stride from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Morgan Stanley raised their target price on Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Stride has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Stride Price Performance

NYSE:LRN opened at $67.08 on Monday. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 0.74 and a beta of 0.26. Stride, Inc. has a 52-week low of $35.61 and a 52-week high of $69.70. The stock has a fifty day moving average of $60.65 and a 200 day moving average of $58.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.44 and a current ratio of 4.29.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.13. The company had revenue of $520.84 million during the quarter, compared to analyst estimates of $507.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. On average, research analysts expect that Stride, Inc. will post 4.55 EPS for the current fiscal year.

Stride 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.