Comerica Bank Sells 22,699 Shares of Stride, Inc. $LRN

Comerica Bank cut its position in shares of Stride, Inc. (NYSE:LRN) by 51.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,729 shares of the company’s stock after selling 22,699 shares during the quarter. Comerica Bank’s holdings in Stride were worth $1,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Stride during the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Stride by 78.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after purchasing an additional 85 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in Stride by 171.6% during the third quarter. Richardson Financial Services Inc. now owns 277 shares of the company’s stock worth $41,000 after purchasing an additional 175 shares during the last quarter. Sentry Investment Management LLC purchased a new position in Stride during the third quarter worth about $42,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after purchasing an additional 131 shares during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRN has been the topic of several analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Stride in a report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. Barrington Research restated an “outperform” rating and set a $125.00 price target on shares of Stride in a report on Thursday, April 16th. Wall Street Zen cut shares of Stride from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $125.00 target price on shares of Stride in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Stride currently has an average rating of “Hold” and an average price target of $109.75.

Stride Stock Down 1.2%

LRN opened at $91.85 on Friday. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.57 and a beta of 0.13. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17. The company’s 50-day moving average price is $89.99 and its two-hundred day moving average price is $81.60.

Stride (NYSE:LRN) last released its earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. The firm had revenue of $629.87 million for the quarter, compared to analysts’ expectations of $629.69 million. Stride had a net margin of 12.15% and a return on equity of 25.20%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.02 earnings per share. As a group, equities analysts expect that Stride, Inc. will post 8.15 earnings per share for the current year.

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.