M&T Bank Corp Reduces Stock Position in Stride, Inc. (NYSE:LRN)

M&T Bank Corp trimmed its holdings in Stride, Inc. (NYSE:LRN) by 9.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,400 shares of the company’s stock after selling 249 shares during the quarter. M&T Bank Corp’s holdings in Stride were worth $304,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in shares of Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after buying an additional 156 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Stride in the 4th quarter worth about $41,000. CIBC Private Wealth Group LLC increased its holdings in shares of Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock worth $42,000 after buying an additional 178 shares during the last quarter. Fifth Third Bancorp grew its holdings in Stride by 158.8% during the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company’s stock valued at $48,000 after purchasing an additional 235 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Stride by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

LRN stock opened at $133.05 on Friday. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The stock’s fifty day moving average is $145.19 and its two-hundred day moving average is $135.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.53 and a current ratio of 5.61. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 0.86 and a beta of 0.32.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a return on equity of 23.36% and a net margin of 13.10%. The company had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same quarter in the previous year, the firm posted $1.60 EPS. Stride’s quarterly revenue was up 17.8% on a year-over-year basis. On average, research analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LRN shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Stride in a research report on Thursday, May 1st. Barrington Research increased their price objective on shares of Stride from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Canaccord Genuity Group raised their price objective on shares of Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Finally, William Blair restated an “outperform” rating on shares of Stride in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.83.

Stride Company Profile

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.