Erste Asset Management GmbH Cuts Holdings in Stride, Inc. $LRN

Erste Asset Management GmbH decreased its holdings in Stride, Inc. (NYSE:LRN) by 65.0% in the fourth quarter, Holdings Channel reports. The fund owned 22,739 shares of the company’s stock after selling 42,290 shares during the quarter. Erste Asset Management GmbH’s holdings in Stride were worth $1,513,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in shares of Stride in the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. raised its position in Stride by 78.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after purchasing an additional 85 shares during the period. Geneos Wealth Management Inc. raised its position in Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after purchasing an additional 131 shares during the period. EverSource Wealth Advisors LLC raised its position in Stride by 481.8% during the second quarter. EverSource Wealth Advisors LLC now owns 512 shares of the company’s stock valued at $74,000 after purchasing an additional 424 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Stride during the third quarter valued at approximately $78,000. Institutional investors own 98.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LRN. Weiss Ratings restated a “hold (c)” rating on shares of Stride in a research report on Friday, April 10th. Barrington Research restated an “outperform” rating and set a $125.00 price objective on shares of Stride in a research report on Thursday, April 16th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.75.

Stride Stock Up 2.7%

Shares of NYSE LRN opened at $99.77 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14. The company has a market cap of $4.24 billion, a P/E ratio of 15.40, a PEG ratio of 0.59 and a beta of 0.10. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17. The firm has a 50-day simple moving average of $93.09 and a two-hundred day simple moving average of $81.66.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. The business had revenue of $629.87 million for the quarter, compared to analyst estimates of $629.69 million. Stride had a net margin of 12.15% and a return on equity of 25.20%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $2.02 earnings per share. Research analysts anticipate that Stride, Inc. will post 8.21 earnings per share for the current year.

Stride Company Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.