Lakewood Capital Management LP Takes Position in Stride, Inc. $LRN

Lakewood Capital Management LP acquired a new position in Stride, Inc. (NYSE:LRN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 90,000 shares of the company’s stock, valued at approximately $7,762,000. Lakewood Capital Management LP owned about 0.22% of Stride at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after buying an additional 85 shares during the last quarter. GAMMA Investing LLC lifted its position in Stride by 2.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,716 shares of the company’s stock worth $407,000 after acquiring an additional 128 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after acquiring an additional 131 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in Stride by 2.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 6,338 shares of the company’s stock valued at $412,000 after acquiring an additional 149 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Stride during the second quarter valued at about $25,000. 98.24% of the stock is owned by institutional investors.

Stride Stock Performance

Stride stock opened at $85.08 on Tuesday. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $171.17. The firm has a market capitalization of $3.54 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.49 and a beta of 0.11. The stock has a fifty day moving average price of $85.62 and a two-hundred day moving average price of $88.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.94 and a quick ratio of 5.81.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates 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 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts anticipate that Stride, Inc. will post 8.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. William Blair downgraded shares of Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Stride in a report on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Stride currently has an average rating of “Hold” and an average price target of $109.75.

About Stride

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.