Martin Currie Ltd. Sells 436 Shares of Stride, Inc. (NYSE:LRN)

Martin Currie Ltd. cut its position in Stride, Inc. (NYSE:LRN) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,722 shares of the company’s stock after selling 436 shares during the quarter. Martin Currie Ltd.’s holdings in Stride were worth $724,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LRN. Larson Financial Group LLC increased its stake in shares of Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 160 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Stride by 140.5% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after buying an additional 156 shares during the period. Harbour Investments Inc. increased its stake in shares of Stride by 374.6% in the first quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock valued at $43,000 after buying an additional 266 shares during the period. Fifth Third Bancorp increased its stake in shares of Stride by 158.8% in the first quarter. Fifth Third Bancorp now owns 383 shares of the company’s stock valued at $48,000 after buying an additional 235 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Stride during the fourth quarter worth approximately $41,000. 98.24% of the stock is currently owned by institutional investors.

Stride Trading Down 0.7%

NYSE LRN opened at $157.23 on Friday. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30. 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 stock has a 50-day moving average of $139.32 and a 200-day moving average of $138.69. The firm has a market cap of $6.86 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 0.93 and a beta of 0.10.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Canaccord Genuity Group raised their target price on Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Stride in a report on Thursday, May 1st. Morgan Stanley raised their target price on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. William Blair restated an “outperform” rating on shares of Stride in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded Stride from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.40.

About Stride

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.