The Manufacturers Life Insurance Company Makes New Investment in Stride, Inc. $LRN

The Manufacturers Life Insurance Company bought a new position in Stride, Inc. (NYSE:LRN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,879 shares of the company’s stock, valued at approximately $1,801,000.

Other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in Stride during the 2nd quarter worth $25,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 during the period. Leonteq Securities AG bought a new position in Stride in the fourth quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its holdings in Stride by 108.7% in the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock valued at $38,000 after acquiring an additional 225 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Stride by 482.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 511 shares during the period. Institutional investors own 98.24% of the company’s stock.

Analysts Set New Price Targets

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

Stride Price Performance

Shares of LRN stock opened at $85.68 on Friday. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $166.93. The company has a quick ratio of 5.81, a current ratio of 5.94 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.49 and a beta of 0.11. The firm has a fifty day moving average of $85.95 and a 200-day moving average of $88.35.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.12 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $626.52 million. During the same period in the prior year, the company earned $2.29 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research 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.