Bosun Asset Management LLC Reduces Stake in Stride, Inc. $LRN

Bosun Asset Management LLC cut its holdings in shares of Stride, Inc. (NYSE:LRN) by 16.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,931 shares of the company’s stock after selling 1,361 shares during the quarter. Bosun Asset Management LLC’s holdings in Stride were worth $877,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LRN. DAVENPORT & Co LLC acquired a new stake in Stride during the 1st quarter worth about $461,000. Canandaigua National Bank & Trust Co. purchased a new position in Stride during the first quarter valued at approximately $273,000. GAMMA Investing LLC lifted its holdings in Stride by 14,892.4% in the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company’s stock valued at $46,807,000 after acquiring an additional 367,545 shares during the period. CW Advisors LLC lifted its holdings in Stride by 89.5% in the first quarter. CW Advisors LLC now owns 161,458 shares of the company’s stock valued at $20,424,000 after acquiring an additional 76,260 shares during the period. Finally, Kestra Private Wealth Services LLC purchased a new stake in Stride in the 1st quarter worth approximately $771,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Barrington Research upped their price target on Stride from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $146.40.

Stride Trading Down 1.2%

Shares of Stride stock opened at $159.77 on Thursday. Stride, Inc. has a twelve month low of $63.25 and a twelve month high of $171.17. The firm’s 50-day moving average price is $145.19 and its 200 day moving average price is $141.38. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.97 billion, a PE ratio of 26.54, a P/E/G ratio of 0.95 and a beta of 0.22.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.46. The business had revenue of $653.65 million during the quarter, compared to analysts’ expectations of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 earnings per share. On average, sell-side analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

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.