Sycomore Asset Management Reduces Position in Stride, Inc. (NYSE:LRN)

Sycomore Asset Management reduced its holdings in Stride, Inc. (NYSE:LRN) by 45.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,256 shares of the company’s stock after selling 65,225 shares during the quarter. Sycomore Asset Management’s holdings in Stride were worth $4,737,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LRN. SG Capital Management LLC raised 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 purchasing an additional 437,685 shares during the last quarter. Cooper Creek Partners Management LLC raised 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 purchasing an additional 222,866 shares during the last quarter. Wellington Management Group LLP raised 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 purchasing an additional 106,091 shares during the last quarter. Nordea Investment Management AB acquired a new position in Stride during the third quarter worth $3,289,000. Finally, Blair William & Co. IL acquired a new position in Stride during the third quarter worth $3,093,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LRN shares. BMO Capital Markets raised their price target on Stride from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised their price target on Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Wedbush reaffirmed an “outperform” rating on shares of Stride in a research report on Wednesday, January 24th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Stride in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.75.

Stride Trading Up 8.6 %

LRN stock traded up $5.00 during trading on Wednesday, reaching $63.20. 2,176,894 shares of the stock traded hands, compared to its average volume of 776,449. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.52 and a quick ratio of 4.44. The firm has a market capitalization of $2.74 billion, a PE ratio of 15.96, a P/E/G ratio of 0.67 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 business’s 50 day moving average price is $60.26 and its 200-day moving average price is $58.25.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.13. Stride had a return on equity of 17.77% and a net margin of 8.80%. The business had revenue of $520.84 million during the quarter, compared to analyst estimates of $507.89 million. During the same period in the prior year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Stride, Inc. will post 4.31 earnings per share for the current 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.