The Manufacturers Life Insurance Company Increases Stock Position in Stride, Inc. (NYSE:LRN)

The Manufacturers Life Insurance Company boosted its position in Stride, Inc. (NYSE:LRN) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,851 shares of the company’s stock after buying an additional 822 shares during the period. The Manufacturers Life Insurance Company’s holdings in Stride were worth $1,681,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC raised its stake in shares of Stride by 20.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after buying an additional 355,614 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Stride by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock worth $72,821,000 after buying an additional 30,854 shares during the last quarter. Swedbank AB acquired a new position in shares of Stride during the 1st quarter worth $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Stride during the 2nd quarter worth about $43,387,000. Finally, Price T Rowe Associates Inc. MD increased its position in Stride by 641.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after purchasing an additional 439,911 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on LRN. Citigroup cut Stride from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $77.00 to $90.00 in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price target on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group initiated coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price for the company. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Barrington Research reissued an “outperform” rating and set a $90.00 price target on shares of Stride in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Stride presently has an average rating of “Moderate Buy” and an average price target of $85.83.

Stride Stock Performance

LRN stock opened at $73.31 on Friday. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. The firm has a market cap of $3.17 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.84 and a beta of 0.26. Stride, Inc. has a 12-month low of $43.77 and a 12-month high of $88.02. The stock’s 50 day simple moving average is $80.79 and its 200 day simple moving average is $72.15.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. The firm had revenue of $534.18 million during the quarter, compared to the consensus estimate of $525.89 million. Stride had a return on equity of 19.12% and a net margin of 10.01%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. As a group, equities research analysts predict that Stride, Inc. will post 5.05 EPS for the current year.

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.