Tidal Investments LLC Has $17.49 Million Stake in Stride, Inc. $LRN

Tidal Investments LLC decreased its position in shares of Stride, Inc. (NYSE:LRN) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,828 shares of the company’s stock after selling 13,813 shares during the quarter. Tidal Investments LLC’s holdings in Stride were worth $17,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after purchasing an additional 85 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Stride by 2.8% during the second quarter. GAMMA Investing LLC now owns 4,716 shares of the company’s stock worth $407,000 after acquiring an additional 128 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after acquiring an additional 131 shares during the period. Maryland State Retirement & Pension System lifted its position in Stride by 2.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 6,338 shares of the company’s stock valued at $412,000 after acquiring an additional 149 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Stride during the 2nd quarter worth about $25,000. 98.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BMO Capital Markets restated an “outperform” rating and issued a $38.00 price target on shares of Stride in a report on Wednesday. William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.75.

Stride Trading Down 0.4%

Shares of NYSE:LRN opened at $81.39 on Friday. The company has a 50-day simple moving average of $85.48 and a 200 day simple moving average of $88.33. The company has a market capitalization of $3.38 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.47 and a beta of 0.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.81 and a current ratio of 5.94. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $161.81.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.64 by $0.48. Stride had a return on equity of 23.49% and a net margin of 13.43%.The company had revenue of $636.06 million for the quarter, compared to the consensus estimate of $626.52 million. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts forecast that Stride, Inc. will post 8.62 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.