William Blair Investment Management LLC Takes $71.04 Million Position in Stride, Inc. $LRN

William Blair Investment Management LLC purchased a new stake in Stride, Inc. (NYSE:LRN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 823,698 shares of the company’s stock, valued at approximately $71,036,000.

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

Stride Stock Up 0.1%

LRN opened at $84.13 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.81 and a current ratio of 5.94. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 0.49 and a beta of 0.11. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17. The business’s fifty day moving average is $85.59 and its two-hundred day moving average is $88.37.

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

Analyst Ratings Changes

A number of analysts recently commented on LRN shares. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. Finally, William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $109.75.

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.