Kerrisdale Advisers LLC Has $2.50 Million Stock Position in Stride, Inc. $LRN

Kerrisdale Advisers LLC lessened its stake in shares of Stride, Inc. (NYSE:LRN) by 49.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,049 shares of the company’s stock after selling 28,106 shares during the quarter. Kerrisdale Advisers LLC’s holdings in Stride were worth $2,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LRN. Vanguard Group Inc. lifted its stake in shares of Stride by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock valued at $317,090,000 after acquiring an additional 340,838 shares during the last quarter. Jupiter Topco LLC bought a new stake in Stride during the 2nd quarter worth $199,715,000. Janus Henderson Group PLC increased its holdings in Stride by 61.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after purchasing an additional 862,849 shares in the last quarter. Invesco Ltd. increased its holdings in Stride by 1.3% in the 3rd quarter. Invesco Ltd. now owns 1,805,508 shares of the company’s stock worth $268,912,000 after purchasing an additional 23,488 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Stride by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company’s stock worth $154,339,000 after purchasing an additional 90,851 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Price Performance

Shares of NYSE:LRN opened at $86.65 on Monday. 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 $166.93. The firm has a market cap of $3.60 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.50 and a beta of 0.11. The firm’s fifty day moving average is $85.79 and its 200-day moving average is $88.34.

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

Analyst Ratings Changes

A number of analysts have recently commented on LRN shares. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. Finally, William Blair lowered shares of Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Stride currently has an average rating of “Hold” and a consensus target price 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.