PNC Financial Services Group Inc. Decreases Holdings in Stride, Inc. (NYSE:LRN)

PNC Financial Services Group Inc. reduced its stake in Stride, Inc. (NYSE:LRN) by 5.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,430 shares of the company’s stock after selling 285 shares during the period. PNC Financial Services Group Inc.’s holdings in Stride were worth $322,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LRN. SummerHaven Investment Management LLC increased its holdings in Stride by 0.9% during the fourth quarter. SummerHaven Investment Management LLC now owns 20,081 shares of the company’s stock worth $1,192,000 after buying an additional 182 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Stride by 13.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,760 shares of the company’s stock worth $104,000 after purchasing an additional 215 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Stride by 76.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock worth $66,000 after purchasing an additional 483 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in Stride in the fourth quarter valued at approximately $29,000. Finally, McIlrath & Eck LLC bought a new position in Stride during the third quarter valued at $31,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

NYSE:LRN opened at $70.50 on Friday. The business’s fifty day moving average is $68.87 and its 200 day moving average is $63.20. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.21 and a current ratio of 4.29. Stride, Inc. has a 52-week low of $35.61 and a 52-week high of $73.32.

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

Analyst Ratings Changes

LRN has been the topic of several research reports. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. BMO Capital Markets lifted their price objective on Stride from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Stride in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Stride Profile

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.