PDT Partners LLC Acquires Shares of 20,382 Stride, Inc. $LRN

PDT Partners LLC bought a new position in shares of Stride, Inc. (NYSE:LRN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,382 shares of the company’s stock, valued at approximately $1,758,000.

Several other institutional investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after buying an additional 85 shares in the last quarter. GAMMA Investing LLC increased its holdings in Stride by 2.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,716 shares of the company’s stock valued at $407,000 after acquiring an additional 128 shares in the last quarter. 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 worth $43,000 after acquiring an additional 131 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Stride by 2.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 6,338 shares of the company’s stock valued at $412,000 after purchasing an additional 149 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Stride during the 2nd quarter worth approximately $25,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRN has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a report on Monday, June 15th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Stride currently has a consensus rating of “Hold” and an average target price of $109.75.

Stride Price Performance

Stride stock opened at $84.81 on Thursday. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.81 and a current ratio of 5.94. The firm has a 50 day moving average price of $85.67 and a 200 day moving average price of $88.36. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.50 and a beta of 0.11.

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