B. Riley Wealth Advisors Inc. Reduces Holdings in Stride, Inc. (NYSE:LRN)

B. Riley Wealth Advisors Inc. decreased its holdings in Stride, Inc. (NYSE:LRN) by 28.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,626 shares of the company’s stock after selling 1,472 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Stride were worth $377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. purchased a new position in shares of Stride in the fourth quarter worth $5,696,000. Congress Asset Management Co. lifted its holdings in shares of Stride by 8.2% in the fourth quarter. Congress Asset Management Co. now owns 578,540 shares of the company’s stock worth $60,128,000 after buying an additional 43,829 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Stride in the 4th quarter worth $995,000. Truist Financial Corp purchased a new stake in Stride in the 4th quarter worth $302,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Stride by 61.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company’s stock worth $20,250,000 after purchasing an additional 72,518 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Trading Up 1.9%

Shares of NYSE:LRN opened at $151.64 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.04 and a beta of 0.36. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The business’s 50 day moving average price is $142.68 and its 200-day moving average price is $126.75.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.07). The company had revenue of $613.38 million during the quarter, compared to analysts’ expectations of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 earnings per share. On average, equities research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of recent research reports. Canaccord Genuity Group upped their price objective on Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Friday. Barrington Research raised their target price on shares of Stride from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. William Blair reissued an “outperform” rating on shares of Stride in a report on Wednesday, April 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Stride in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $126.83.

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.