Amalgamated Bank Cuts Stock Position in Stride, Inc. (NYSE:LRN)

Amalgamated Bank reduced its position in shares of Stride, Inc. (NYSE:LRN) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,293 shares of the company’s stock after selling 233 shares during the period. Amalgamated Bank’s holdings in Stride were worth $867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRN. Motco acquired a new stake in Stride in the 1st quarter valued at approximately $74,000. EntryPoint Capital LLC acquired a new stake in Stride in the first quarter valued at $77,000. nVerses Capital LLC purchased a new stake in Stride in the 2nd quarter valued at approximately $78,000. GAMMA Investing LLC grew its holdings in shares of Stride by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock worth $87,000 after buying an additional 282 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Stride by 38.0% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $173,000 after purchasing an additional 754 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Up 0.2 %

NYSE LRN opened at $83.95 on Friday. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 0.84 and a beta of 0.26. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $79.56 and a 200-day moving average of $71.05. Stride, Inc. has a 1-year low of $43.77 and a 1-year high of $86.60.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. The business had revenue of $534.18 million for the quarter, compared to analyst estimates of $525.89 million. Stride had a return on equity of 19.12% and a net margin of 10.01%. Stride’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. On average, equities research analysts expect that Stride, Inc. will post 5.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Canaccord Genuity Group initiated coverage on shares of Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. Citigroup lowered shares of Stride from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $77.00 to $90.00 in a research report on Tuesday, August 20th. Barrington Research restated an “outperform” rating and set a $90.00 price objective on shares of Stride in a research report on Friday, September 20th. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group initiated coverage on shares of Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.83.

About Stride

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.