WCM Investment Management LLC Sells 42,926 Shares of Stride, Inc. $LRN

WCM Investment Management LLC reduced its stake in shares of Stride, Inc. (NYSE:LRN) by 36.7% in the third quarter, Holdings Channel reports. The fund owned 74,141 shares of the company’s stock after selling 42,926 shares during the quarter. WCM Investment Management LLC’s holdings in Stride were worth $11,119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Norges Bank purchased a new position in Stride in the second quarter valued at approximately $92,858,000. Squarepoint Ops LLC increased its position in Stride by 88.6% in the second quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock worth $157,804,000 after buying an additional 510,641 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Stride by 75.2% in the second quarter. Franklin Resources Inc. now owns 426,153 shares of the company’s stock valued at $61,873,000 after buying an additional 182,920 shares during the period. Invesco Ltd. lifted its position in shares of Stride by 10.3% during the 2nd quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock valued at $258,731,000 after buying an additional 165,775 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Stride during the 2nd quarter valued at $18,389,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LRN shares. Wall Street Zen lowered Stride from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stride in a research report on Monday, December 29th. Zacks Research lowered shares of Stride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Barrington Research restated an “outperform” rating and set a $125.00 price target on shares of Stride in a research note on Wednesday, January 28th. Finally, Morgan Stanley reduced their price objective on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Stride presently has a consensus rating of “Hold” and an average target price of $109.75.

Stride Stock Down 0.9%

Shares of NYSE:LRN opened at $85.75 on Wednesday. The firm has a fifty day moving average price of $68.29 and a two-hundred day moving average price of $108.92. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.52 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.27 and a quick ratio of 7.19. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17.

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.