Renaissance Technologies LLC Reduces Holdings in Stride, Inc. (NYSE:LRN)

Renaissance Technologies LLC lowered its position in shares of Stride, Inc. (NYSE:LRN) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,000 shares of the company’s stock after selling 2,700 shares during the period. Renaissance Technologies LLC owned approximately 0.47% of Stride worth $14,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in Stride by 76.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock worth $66,000 after acquiring an additional 483 shares during the last quarter. Norges Bank purchased a new stake in Stride in the 4th quarter valued at about $25,594,000. Trexquant Investment LP acquired a new position in Stride in the fourth quarter valued at about $1,752,000. ProVise Management Group LLC purchased a new position in Stride during the fourth quarter worth about $229,000. Finally, Isthmus Partners LLC acquired a new stake in shares of Stride during the fourth quarter valued at about $273,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Up 0.9 %

Shares of NYSE LRN opened at $85.03 on Monday. The stock has a market cap of $3.68 billion, a P/E ratio of 19.96, a PEG ratio of 0.77 and a beta of 0.26. The business’s fifty day simple moving average is $78.21 and its 200-day simple moving average is $70.37. Stride, Inc. has a 12-month low of $43.77 and a 12-month high of $86.06. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. Stride had a return on equity of 19.12% and a net margin of 10.01%. The company had revenue of $534.18 million for the quarter, compared to analyst estimates of $525.89 million. During the same quarter last year, the company earned $1.01 EPS. Stride’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities analysts predict that Stride, Inc. will post 5.05 EPS for the current fiscal year.

Analyst Ratings Changes

LRN has been the topic of several recent analyst reports. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Canaccord Genuity Group initiated coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Canaccord Genuity Group assumed coverage on Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Barrington Research reiterated an “outperform” rating and issued a $90.00 price objective on shares of Stride in a report on Friday. Finally, BMO Capital Markets raised their target price on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stride presently has a consensus rating of “Moderate Buy” and an average price target of $85.83.

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.