Mountain Pacific Investment Advisers LLC Decreases Stock Holdings in Stride, Inc. $LRN

Mountain Pacific Investment Advisers LLC reduced its stake in Stride, Inc. (NYSE:LRN) by 54.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 16,802 shares of the company’s stock after selling 20,454 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Stride were worth $2,502,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Stride by 10.3% in the second quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock valued at $258,731,000 after buying an additional 165,775 shares during the period. Squarepoint Ops LLC lifted its holdings in Stride by 88.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock worth $157,804,000 after purchasing an additional 510,641 shares in the last quarter. Geode Capital Management LLC boosted its stake in Stride by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,045,904 shares of the company’s stock worth $151,873,000 after purchasing an additional 24,889 shares during the period. Norges Bank bought a new stake in shares of Stride during the second quarter valued at about $92,858,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Stride by 75.2% in the second quarter. Franklin Resources Inc. now owns 426,153 shares of the company’s stock worth $61,873,000 after buying an additional 182,920 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

LRN stock opened at $71.58 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.78 and a quick ratio of 6.69. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17. The company has a market cap of $3.14 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 0.42 and a beta of 0.06. The stock’s fifty day moving average price is $65.61 and its 200-day moving average price is $112.60.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, October 28th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.29. The business had revenue of $620.88 million for the quarter, compared to analysts’ expectations of $615.50 million. Stride had a return on equity of 26.29% and a net margin of 12.76%.The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. On average, equities analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Morgan Stanley lowered their price objective on Stride from $130.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. BMO Capital Markets set a $108.00 target price on Stride and gave the stock a “market perform” rating in a research report on Wednesday, October 29th. Barrington Research restated an “outperform” rating and issued a $125.00 target price on shares of Stride in a research note on Wednesday. Finally, Wall Street Zen upgraded Stride from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Stride presently has an average rating of “Hold” and a consensus price target of $125.75.

Stride Company Profile

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.