New York Life Investment Management LLC Sells 1,450 Shares of Stride, Inc. (NYSE:LRN)

New York Life Investment Management LLC trimmed its stake in shares of Stride, Inc. (NYSE:LRNFree Report) by 13.8% in the third quarter, Holdings Channel.com reports. The fund owned 9,057 shares of the company’s stock after selling 1,450 shares during the quarter. New York Life Investment Management LLC’s holdings in Stride were worth $408,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LRN. Ronald Blue Trust Inc. raised its position in shares of Stride by 348.1% during the third quarter. Ronald Blue Trust Inc. now owns 578 shares of the company’s stock worth $26,000 after acquiring an additional 449 shares during the last quarter. UBS Group AG bought a new stake in Stride in the second quarter worth approximately $30,000. Tower Research Capital LLC TRC increased its holdings in Stride by 51.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the company’s stock worth $40,000 after purchasing an additional 346 shares in the last quarter. Quarry LP increased its holdings in Stride by 138.5% in the first quarter. Quarry LP now owns 1,052 shares of the company’s stock worth $41,000 after purchasing an additional 611 shares in the last quarter. Finally, KBC Group NV bought a new stake in Stride in the second quarter worth approximately $113,000. 98.24% of the stock is currently owned by institutional investors.

Insider Activity at Stride

In related news, Director Eliza Mcfadden sold 11,977 shares of Stride stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $57.70, for a total transaction of $691,072.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Stride news, Director Robert Cohen sold 4,362 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $60.56, for a total value of $264,162.72. Following the transaction, the director now owns 9,495 shares of the company’s stock, valued at $575,017.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eliza Mcfadden sold 11,977 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $57.70, for a total value of $691,072.90. The disclosure for this sale can be found here. 2.76% of the stock is owned by insiders.

Stride Trading Up 4.0 %

NYSE LRN opened at $62.55 on Friday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 0.70 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 has a 50 day moving average price of $60.00 and a 200-day moving average price of $51.55. The company has a quick ratio of 4.44, a current ratio of 4.52 and a debt-to-equity ratio of 0.43.

Stride (NYSE:LRNGet Free Report) last announced its earnings results on Tuesday, January 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.23. The company had revenue of $504.87 million for the quarter, compared to analysts’ expectations of $498.05 million. Stride had a return on equity of 17.77% and a net margin of 8.80%. Stride’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 earnings per share. As a group, equities analysts expect that Stride, Inc. will post 4.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

LRN has been the subject of a number of research analyst reports. Barrington Research lifted their target price on Stride from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. BMO Capital Markets lifted their target price on Stride from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Citigroup boosted their price objective on Stride from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 29th. Morgan Stanley boosted their price objective on Stride from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Finally, StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stride presently has a consensus rating of “Moderate Buy” and an average target price of $71.75.

View Our Latest Research Report on LRN

About Stride

(Free Report)

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.

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Institutional Ownership by Quarter for Stride (NYSE:LRN)

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