Mendota Financial Group LLC Sells 472 Shares of Stride, Inc. (NYSE:LRN)

Mendota Financial Group LLC cut its stake in shares of Stride, Inc. (NYSE:LRN) by 46.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 541 shares of the company’s stock after selling 472 shares during the quarter. Mendota Financial Group LLC’s holdings in Stride were worth $56,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LRN. Janus Henderson Group PLC lifted its position in shares of Stride by 1.1% in the third quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after acquiring an additional 13,050 shares in the last quarter. Geode Capital Management LLC boosted its stake in Stride by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock worth $82,315,000 after purchasing an additional 35,349 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Stride by 51.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock valued at $79,326,000 after buying an additional 314,435 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Stride by 72.4% in the third quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after buying an additional 347,564 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Stride by 0.7% during the third quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company’s stock valued at $64,286,000 after acquiring an additional 5,278 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.

Stride Stock Performance

Shares of LRN stock opened at $109.73 on Tuesday. The company’s 50 day moving average is $105.10 and its 200 day moving average is $87.32. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 0.80 and a beta of 0.32. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $114.71.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. The firm had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS. On average, sell-side analysts anticipate that Stride, Inc. will post 6.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LRN has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Citigroup lifted their price target on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Barrington Research raised their price objective on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. BMO Capital Markets upped their target price on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, StockNews.com cut Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

Stride Profile

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.