Dimensional Fund Advisors LP Lowers Stake in Stride, Inc. (NYSE:LRN)

Dimensional Fund Advisors LP reduced its stake in shares of Stride, Inc. (NYSE:LRN) by 6.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,699,069 shares of the company’s stock after selling 178,951 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.24% of Stride worth $190,280,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Stride by 76.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock valued at $66,000 after purchasing an additional 483 shares during the period. Motco purchased a new stake in Stride in the first quarter worth about $74,000. EntryPoint Capital LLC purchased a new stake in Stride in the first quarter worth about $77,000. nVerses Capital LLC purchased a new stake in Stride in the second quarter worth about $78,000. Finally, GAMMA Investing LLC lifted its stake in Stride by 25.9% in the first quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock worth $87,000 after acquiring an additional 282 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

LRN opened at $84.31 on Friday. Stride, Inc. has a 52-week low of $43.77 and a 52-week high of $84.79. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.65 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The firm’s 50-day moving average price is $77.88 and its 200-day moving average price is $70.08.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LRN. Canaccord Genuity Group began coverage on shares of Stride in a research note on Thursday, August 8th. They issued 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 upped their price objective for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group initiated coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stride presently 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.