Advisors Asset Management Inc. Trims Stock Position in Stride, Inc. $LRN

Advisors Asset Management Inc. lowered its stake in shares of Stride, Inc. (NYSE:LRN) by 73.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 750 shares of the company’s stock after selling 2,049 shares during the period. Advisors Asset Management Inc.’s holdings in Stride were worth $95,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LRN. Vident Advisory LLC grew its position in shares of Stride by 2.9% during the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company’s stock valued at $372,000 after acquiring an additional 84 shares during the period. Vestcor Inc grew its position in shares of Stride by 4.6% during the 1st quarter. Vestcor Inc now owns 2,328 shares of the company’s stock valued at $294,000 after acquiring an additional 102 shares during the period. First Horizon Advisors Inc. grew its position 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 acquiring an additional 156 shares during the period. Larson Financial Group LLC grew its position in shares of Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after acquiring an additional 160 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Stride by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,111 shares of the company’s stock worth $900,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insider Buying and Selling at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the sale, the chief executive officer owned 706,353 shares of the company’s stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Stride Stock Down 1.7%

Shares of NYSE LRN opened at $158.36 on Friday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.94 and a beta of 0.22. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $171.17. The business’s 50 day moving average is $148.06 and its two-hundred day moving average is $142.53.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. During the same quarter in the previous year, the company earned $1.42 earnings per share. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LRN shares. Barrington Research lifted their price objective on Stride from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Morgan Stanley lifted their price objective on Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Stride has an average rating of “Moderate Buy” and a consensus target price of $146.40.

Stride 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.