Watershed Asset Management L.L.C. Sells 1,308 Shares of Stride, Inc. (NYSE:LRN)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Stride in the fourth quarter valued at about $65,000. Illinois Municipal Retirement Fund increased its stake in Stride by 3.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 23,577 shares of the company’s stock valued at $1,400,000 after acquiring an additional 729 shares during the period. Cornerstone Investment Partners LLC bought a new stake in Stride in the fourth quarter valued at about $222,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Stride in the fourth quarter valued at about $1,134,000. Finally, Daiwa Securities Group Inc. increased its stake 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 acquiring an additional 215 shares during the period. Institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LRN. BMO Capital Markets upped their target price on shares of Stride from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barrington Research reissued an “outperform” rating and issued a $75.00 target price on shares of Stride in a research note on Wednesday, April 17th. Morgan Stanley upped their price objective on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup upped their price objective on shares of Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stride presently has an average rating of “Moderate Buy” and an average price target of $71.75.

Stride Price Performance

Stride stock traded up $0.10 during trading hours on Tuesday, hitting $58.20. 1,068,514 shares of the stock were exchanged, compared to its average volume of 757,870. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.44 and a current ratio of 4.52. The stock has a market capitalization 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, Inc. has a 12 month low of $35.61 and a 12 month high of $69.70. The business’s 50-day moving average is $60.31 and its two-hundred day moving average is $58.16.

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