Stride, Inc. (NYSE:LRN) Shares Sold by South Street Advisors LLC

by · The Cerbat Gem

South Street Advisors LLC reduced its position in Stride, Inc. (NYSE:LRN – Free Report) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,659 shares of the company’s stock after selling 3,425 shares during the quarter. South Street Advisors LLC owned about 0.20% of Stride worth $7,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its stake in Stride by 47.4% during the third quarter. Natixis Advisors LLC now owns 181,910 shares of the company’s stock worth $15,518,000 after buying an additional 58,487 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Stride by 72.4% during the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after acquiring an additional 347,564 shares during the period. GSA Capital Partners LLP acquired a new stake in Stride during the third quarter worth about $513,000. Entropy Technologies LP purchased a new position in Stride during the third quarter worth about $442,000. Finally, Crossmark Global Holdings Inc. raised its position in shares of Stride by 3.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company’s stock valued at $274,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

Insider Buying and Selling at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now directly owns 85,058 shares in the company, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

LRN has been the subject of several research analyst reports. Barrington Research increased their target price on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group started coverage on Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. Citigroup boosted their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets raised their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Stride currently has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Check Out Our Latest Stock Analysis on LRN

Stride Trading Up 0.7 %

Shares of LRN traded up $0.71 during mid-day trading on Friday, reaching $100.33. The company had a trading volume of 492,953 shares, compared to its average volume of 840,974. The firm has a fifty day simple moving average of $84.43 and a 200-day simple moving average of $76.81. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 0.75 and a beta of 0.27. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $103.98.

Stride (NYSE:LRN – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, sell-side analysts anticipate that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Stride Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding LRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stride, Inc. (NYSE:LRN – Free Report).