Stride, Inc. (NYSE:LRN) Stake Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in Stride, Inc. (NYSE:LRN) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,399 shares of the company’s stock after selling 167 shares during the period. Mutual of America Capital Management LLC’s holdings in Stride were worth $546,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LRN. Blue Trust Inc. lifted its stake in Stride by 795.5% in the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after acquiring an additional 10,254 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Stride in the 2nd quarter valued at about $534,000. International Assets Investment Management LLC boosted its holdings in shares of Stride by 8,431.7% during the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock worth $437,000 after purchasing an additional 5,059 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in Stride by 24.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after purchasing an additional 7,100 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Stride in the 1st quarter valued at approximately $5,402,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LRN shares. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Barrington Research boosted their target price on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price target on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group assumed coverage on Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target for the company. Finally, Canaccord Genuity Group raised their price objective on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stride currently has an average rating of “Moderate Buy” and an average price target of $90.17.

Stride Stock Performance

Shares of NYSE LRN opened at $108.44 on Wednesday. The business’s 50-day simple moving average is $87.21 and its 200-day simple moving average is $78.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. Stride, Inc. has a 52 week low of $54.81 and a 52 week high of $108.48. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 0.78 and a beta of 0.27.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter last year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts expect that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the transaction, the director now directly owns 85,058 shares of the company’s stock, valued at $7,786,209.32. The trade was a 8.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Stride 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.