Stride, Inc. (NYSE:LRN) Stock Holdings Lowered by Systematic Financial Management LP

Systematic Financial Management LP trimmed its holdings in shares of Stride, Inc. (NYSE:LRN) by 8.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 407,721 shares of the company’s stock after selling 39,305 shares during the quarter. Systematic Financial Management LP’s holdings in Stride were worth $28,744,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LRN. Susquehanna Fundamental Investments LLC acquired a new position in shares of Stride in the 2nd quarter worth $374,000. The Manufacturers Life Insurance Company raised its holdings in Stride by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,851 shares of the company’s stock worth $1,681,000 after buying an additional 822 shares during the period. Marshall Wace LLP purchased a new stake in Stride during the second quarter valued at about $230,000. Public Sector Pension Investment Board boosted its holdings in shares of Stride by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 87,860 shares of the company’s stock worth $6,194,000 after buying an additional 6,282 shares during the period. Finally, Hancock Whitney Corp purchased a new position in shares of Stride in the second quarter worth approximately $205,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. Barrington Research restated an “outperform” rating and set a $90.00 price target on shares of Stride in a report on Friday, September 20th. Citigroup lowered shares of Stride from a “buy” rating to a “neutral” rating and upped their price objective for the company from $77.00 to $90.00 in a research note on Tuesday, August 20th. Finally, Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Stride currently has a consensus rating of “Moderate Buy” and an average target price of $85.83.

Stride Stock Up 0.2 %

Stride stock opened at $83.95 on Friday. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. Stride, Inc. has a 1-year low of $43.77 and a 1-year high of $86.60. The firm’s fifty day simple moving average is $79.56 and its 200-day simple moving average is $71.12. The company has a market capitalization of $3.63 billion, a P/E ratio of 19.71, a P/E/G ratio of 0.84 and a beta of 0.26.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.15. Stride had a return on equity of 19.12% and a net margin of 10.01%. The company had revenue of $534.18 million during the quarter, compared to the consensus estimate of $525.89 million. During the same quarter in the prior year, the company posted $1.01 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Sell-side analysts forecast that Stride, Inc. will post 5.05 earnings per share for the current fiscal year.

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.