The Manufacturers Life Insurance Company Raises Position in Stride, Inc. (NYSE:LRN)

The Manufacturers Life Insurance Company grew its position in Stride, Inc. (NYSE:LRN) by 3.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,851 shares of the company’s stock after buying an additional 822 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Stride worth $1,681,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new position in shares of Stride in the first quarter worth approximately $111,377,000. Swedbank AB bought a new stake in shares of Stride in the 1st quarter worth about $60,385,000. Vaughan Nelson Investment Management L.P. bought a new stake in Stride during the 2nd quarter valued at about $43,387,000. Victory Capital Management Inc. lifted its holdings in Stride by 1,443.6% during the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock valued at $33,836,000 after buying an additional 448,849 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Stride by 641.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock valued at $32,058,000 after purchasing an additional 439,911 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Trading Down 2.1 %

Shares of LRN opened at $73.31 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 12-month low of $43.77 and a 12-month high of $88.02. The firm has a 50-day moving average price of $80.79 and a 200 day moving average price of $72.15. The firm has a market capitalization of $3.17 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.84 and a beta of 0.26.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on LRN shares. Citigroup downgraded shares of Stride from a “buy” rating to a “neutral” rating and raised their target price for the company from $77.00 to $90.00 in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on shares of Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Canaccord Genuity Group began coverage on shares of Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stride presently has an average rating of “Moderate Buy” and an average target price of $85.83.

Stride Company Profile

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.