Picton Mahoney Asset Management Sells 54,310 Shares of Stride, Inc. (NYSE:LRN)

Picton Mahoney Asset Management cut its holdings in shares of Stride, Inc. (NYSE:LRN) by 72.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,227 shares of the company’s stock after selling 54,310 shares during the period. Picton Mahoney Asset Management’s holdings in Stride were worth $2,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Stride during the fourth quarter worth $37,000. Smartleaf Asset Management LLC lifted its stake in shares of Stride by 372.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 751 shares of the company’s stock valued at $79,000 after acquiring an additional 592 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Stride by 14.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,544 shares of the company’s stock valued at $163,000 after acquiring an additional 199 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Stride in the 4th quarter valued at $165,000. Finally, Wolverine Asset Management LLC lifted its stake in shares of Stride by 11.3% in the 4th quarter. Wolverine Asset Management LLC now owns 1,800 shares of the company’s stock valued at $187,000 after acquiring an additional 183 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Up 2.1 %

Shares of NYSE:LRN opened at $120.93 on Friday. The firm has a market cap of $5.27 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.04 and a beta of 0.46. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. Stride, Inc. has a 12-month low of $56.17 and a 12-month high of $145.00. The business has a fifty day simple moving average of $127.31 and a 200 day simple moving average of $104.58.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. Analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Analyst Ratings Changes

LRN has been the subject of a number of research reports. Barrington Research reiterated an “outperform” rating and issued a $140.00 price target on shares of Stride in a research note on Friday. Morgan Stanley increased their price target on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Canaccord Genuity Group increased their price target on Stride from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, BMO Capital Markets increased their price target on Stride from $122.00 to $134.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.33.

Stride Company 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.