Wakefield Asset Management LLLP Sells 225 Shares of Stride, Inc. (NYSE:LRN)

Wakefield Asset Management LLLP lessened its stake in shares of Stride, Inc. (NYSE:LRN) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,309 shares of the company’s stock after selling 225 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Stride were worth $1,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nordea Investment Management AB grew its position in shares of Stride by 48.9% during the 1st quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock valued at $6,698,000 after purchasing an additional 34,682 shares in the last quarter. Norges Bank bought a new position in Stride in the 4th quarter worth about $25,594,000. UniSuper Management Pty Ltd purchased a new stake in shares of Stride in the 1st quarter valued at about $555,000. Trexquant Investment LP purchased a new stake in shares of Stride in the 4th quarter valued at about $1,752,000. Finally, Blue Trust Inc. boosted its position in shares of Stride by 795.5% during the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock valued at $814,000 after acquiring an additional 10,254 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Price Performance

Shares of NYSE:LRN opened at $79.49 on Friday. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.44 billion, a PE ratio of 18.67, a PEG ratio of 0.82 and a beta of 0.26. The company’s fifty day moving average is $75.53 and its 200 day moving average is $68.63. Stride, Inc. has a 52 week low of $42.95 and a 52 week high of $83.97.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.27 by $0.15. Stride had a return on equity of 19.12% and a net margin of 10.01%. The firm had revenue of $534.18 million for the quarter, compared to the consensus estimate of $525.89 million. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that Stride, Inc. will post 5.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

LRN has been the topic of a number of recent analyst reports. Citigroup downgraded shares of Stride from a “buy” rating to a “neutral” rating and raised their target price for the company from $77.00 to $90.00 in a research note on Tuesday, August 20th. Barrington Research raised their price objective on shares of Stride from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Canaccord Genuity Group assumed coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. BMO Capital Markets raised their price target on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.83.

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.