Wellington Management Group LLP Reduces Position in Stride, Inc. (NYSE:LRN)

Wellington Management Group LLP trimmed its stake in Stride, Inc. (NYSE:LRN) by 23.7% in the 4th quarter, HoldingsChannel reports. The firm owned 248,718 shares of the company’s stock after selling 77,113 shares during the period. Wellington Management Group LLP’s holdings in Stride were worth $14,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LRN. Envestnet Asset Management Inc. raised its position in shares of Stride by 89.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 118,047 shares of the company’s stock valued at $5,316,000 after purchasing an additional 55,641 shares during the period. Federated Hermes Inc. bought a new position in shares of Stride in the third quarter worth about $551,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Stride during the third quarter worth about $212,000. Teza Capital Management LLC bought a new stake in Stride during the 3rd quarter valued at approximately $221,000. Finally, Glenmede Trust Co. NA lifted its holdings in Stride by 48.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 20,055 shares of the company’s stock worth $903,000 after purchasing an additional 6,566 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Stride from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, Barrington Research reiterated an “outperform” rating and issued a $75.00 target price on shares of Stride in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Stride Stock Performance

Stride stock opened at $68.59 on Thursday. The company’s 50-day moving average price is $68.36 and its 200-day moving average price is $63.08. The company has a quick ratio of 4.21, a current ratio of 4.29 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.97 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 0.75 and a beta of 0.27. Stride, Inc. has a twelve month low of $35.61 and a twelve month high of $73.32.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.13. The company had revenue of $520.84 million for the quarter, compared to analysts’ expectations of $507.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, equities research analysts forecast that Stride, Inc. will post 4.55 EPS for the current fiscal year.

About Stride

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.