Wellington Management Group LLP Sells 192,693 Shares of Stride, Inc. $LRN

Wellington Management Group LLP trimmed its stake in Stride, Inc. (NYSE:LRN) by 46.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 218,113 shares of the company’s stock after selling 192,693 shares during the period. Wellington Management Group LLP’s holdings in Stride were worth $18,810,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LRN. AQR Capital Management LLC boosted its holdings in Stride by 67.3% during the 1st quarter. AQR Capital Management LLC now owns 28,547 shares of the company’s stock valued at $3,611,000 after acquiring an additional 11,481 shares during the period. NewEdge Advisors LLC boosted its position in Stride by 80.9% during the 1st quarter. NewEdge Advisors LLC now owns 5,124 shares of the company’s stock valued at $648,000 after acquiring an additional 2,291 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Stride by 12.4% in the 1st quarter. Empowered Funds LLC now owns 18,202 shares of the company’s stock valued at $2,303,000 after buying an additional 2,008 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Stride by 31.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company’s stock worth $17,009,000 after buying an additional 32,470 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Stride by 62.7% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after purchasing an additional 131 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRN has been the topic of several analyst reports. William Blair lowered Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research report on Monday, August 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $109.75.

Stride Stock Performance

Shares of Stride stock opened at $84.86 on Monday. The business’s fifty day simple moving average is $85.90 and its 200-day simple moving average is $88.35. The company has a quick ratio of 5.81, a current ratio of 5.94 and a debt-to-equity ratio of 0.29. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $166.93. The firm has a market cap of $3.53 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.49 and a beta of 0.11.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.48. Stride had a net margin of 13.43% and a return on equity of 23.49%. The firm had revenue of $636.06 million during the quarter, compared to analysts’ expectations of $626.52 million. During the same quarter last year, the company posted $2.29 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts forecast that Stride, Inc. will post 8.62 earnings per share for the current year.

Stride Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.