Lakewood Capital Management LP Makes New $7.76 Million Investment in Stride, Inc. $LRN

Lakewood Capital Management LP purchased a new stake in shares of Stride, Inc. (NYSE:LRN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,000 shares of the company’s stock, valued at approximately $7,762,000.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Stride by 67.3% during the first 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 lifted its holdings in shares of Stride by 80.9% during the 1st quarter. NewEdge Advisors LLC now owns 5,124 shares of the company’s stock valued at $648,000 after purchasing an additional 2,291 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Stride by 12.4% during the 1st quarter. Empowered Funds LLC now owns 18,202 shares of the company’s stock valued at $2,303,000 after purchasing an additional 2,008 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 during the period. Finally, Geneos Wealth Management Inc. grew its position 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 during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Stock Performance

Shares of LRN opened at $85.08 on Tuesday. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17. The firm has a fifty day simple moving average of $85.62 and a 200 day simple moving average of $88.38. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.49 and a beta of 0.11. The company has a current ratio of 5.94, a quick ratio of 5.81 and a debt-to-equity ratio of 0.29.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.48. Stride had a net margin of 13.43% and a return on equity of 23.49%. The firm had revenue of $636.06 million for the quarter, compared to analyst estimates of $626.52 million. During the same period in the previous year, the business earned $2.29 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Research analysts forecast that Stride, Inc. will post 8.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research report on Wednesday, July 8th. William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.