The Manufacturers Life Insurance Company Takes Position in Stride, Inc. $LRN

The Manufacturers Life Insurance Company acquired a new stake in Stride, Inc. (NYSE:LRN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 20,879 shares of the company’s stock, valued at approximately $1,801,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Stride as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in Stride by 61.0% during the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock valued at $200,799,000 after purchasing an additional 862,849 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Stride by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock worth $317,090,000 after buying an additional 340,838 shares in the last quarter. Kendall Capital Management bought a new position in shares of Stride during the 2nd quarter worth approximately $2,294,000. JB Capital Partners LP bought a new position in shares of Stride during the 2nd quarter worth approximately $3,018,400. Finally, Fifth Third Bancorp boosted its stake in Stride by 18,660.7% in the 1st quarter. Fifth Third Bancorp now owns 54,406 shares of the company’s stock valued at $4,797,000 after buying an additional 54,116 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Stride Stock Performance

NYSE:LRN opened at $85.68 on Friday. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $166.93. The firm has a 50 day moving average of $85.95 and a 200-day moving average of $88.35. The company has a current ratio of 5.94, a quick ratio of 5.81 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.56 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.49 and a beta of 0.11.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.48. Stride had a return on equity of 23.49% and a net margin of 13.43%.The business had revenue of $636.06 million for the quarter, compared to analyst estimates of $626.52 million. During the same period in the prior year, the company earned $2.29 EPS. Stride’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Stride, Inc. will post 8.62 EPS for the current fiscal year.

Analyst Ratings Changes

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

Stride Company 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.