Watershed Asset Management L.L.C. Lowers Holdings in Stride, Inc. (NYSE:LRN)

Watershed Asset Management L.L.C. reduced its position in shares of Stride, Inc. (NYSE:LRN) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,596 shares of the company’s stock after selling 1,308 shares during the period. Watershed Asset Management L.L.C.’s holdings in Stride were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Stride during the fourth quarter worth $65,000. Illinois Municipal Retirement Fund boosted its position in shares of Stride by 3.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 23,577 shares of the company’s stock worth $1,400,000 after buying an additional 729 shares during the period. Cornerstone Investment Partners LLC purchased a new position in shares of Stride during the fourth quarter worth $222,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Stride in the fourth quarter valued at $1,134,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Stride by 13.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,760 shares of the company’s stock valued at $104,000 after purchasing an additional 215 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRN has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating on shares of Stride in a report on Wednesday, January 24th. Barrington Research reiterated an “outperform” rating and issued a $75.00 target price on shares of Stride in a report on Wednesday, April 17th. StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Morgan Stanley lifted their target price on Stride from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Finally, Citigroup lifted their target price on Stride from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.75.

Stride Stock Up 0.2 %

Stride stock traded up $0.10 during midday trading on Tuesday, reaching $58.20. The company’s stock had a trading volume of 1,068,514 shares, compared to its average volume of 757,870. The business has a 50-day simple moving average of $60.31 and a 200-day simple moving average of $58.16. The company has a quick ratio of 4.44, a current ratio of 4.52 and a debt-to-equity ratio of 0.43. Stride, Inc. has a fifty-two week low of $35.61 and a fifty-two week high of $69.70. The company has a market cap of $2.52 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.66 and a beta of 0.26.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, January 23rd. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.23. Stride had a return on equity of 17.77% and a net margin of 8.80%. The business had revenue of $504.87 million for the quarter, compared to analysts’ expectations of $498.05 million. During the same quarter in the previous year, the firm earned $1.19 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts expect that Stride, Inc. will post 4.31 earnings per share for the current fiscal year.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.