South Street Advisors LLC Sells 27,651 Shares of Stride, Inc. $LRN

South Street Advisors LLC lessened its holdings in shares of Stride, Inc. (NYSE:LRN) by 33.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,673 shares of the company’s stock after selling 27,651 shares during the period. South Street Advisors LLC owned approximately 0.13% of Stride worth $3,615,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 acquiring an additional 85 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after acquiring an additional 131 shares during the period. Measured Wealth Private Client Group LLC increased its position in shares of Stride by 3.8% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 4,619 shares of the company’s stock valued at $688,000 after acquiring an additional 169 shares during the period. Arizona State Retirement System increased its holdings in Stride by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 12,879 shares of the company’s stock worth $1,918,000 after buying an additional 170 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Stride during the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Up 1.4%

Shares of NYSE LRN opened at $92.22 on Friday. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.92 billion, a P/E ratio of 14.23, a PEG ratio of 0.55 and a beta of 0.13. The business’s fifty day simple moving average is $91.06 and its 200-day simple moving average is $79.57.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. Stride had a return on equity of 25.20% and a net margin of 12.15%.The company had revenue of $629.87 million for the quarter, compared to analysts’ expectations of $629.69 million. During the same period last year, the firm earned $2.02 earnings per share. Stride’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Stride, Inc. will post 8.21 EPS for the current fiscal year.

Analysts Set New Price Targets

LRN has been the topic of several recent research reports. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Barrington Research reiterated an “outperform” rating and issued a $125.00 price objective on shares of Stride in a report on Thursday, April 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. Finally, Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $109.75.

About Stride

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.