K12 Inc (NYSE:LRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “K12 Inc., a technology-based education company, is a leading national provider of proprietary curriculum and educational services created for online delivery to students in kindergarten through 12th grade, or K-12. Its mission is to maximize a child’s potential by providing access to an engaging and effective education, regardless of geographic location or socio-economic background. “

A number of other brokerages have also recently weighed in on LRN. TheStreet raised shares of K12 from a “c+” rating to a “b-” rating in a research report on Monday, April 3rd. BMO Capital Markets reissued a “buy” rating and set a $22.00 price target on shares of K12 in a research report on Wednesday, April 12th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $17.75.

Shares of K12 (LRN) traded down 1.21% during mid-day trading on Thursday, reaching $17.99. 237,536 shares of the company’s stock traded hands. The firm has a market cap of $729.78 million, a price-to-earnings ratio of 119.93 and a beta of -0.21. K12 has a 52 week low of $10.17 and a 52 week high of $21.18. The company’s 50 day moving average is $18.31 and its 200-day moving average is $18.59.

K12 (NYSE:LRN) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.16. The company had revenue of $222.50 million for the quarter, compared to analysts’ expectations of $215.69 million. K12 had a net margin of 0.67% and a return on equity of 3.19%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. Equities analysts expect that K12 will post $0.41 earnings per share for the current fiscal year.

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In other news, CFO James Jeaho Rhyu sold 10,000 shares of K12 stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $18.20, for a total transaction of $182,000.00. Following the transaction, the chief financial officer now directly owns 270,624 shares of the company’s stock, valued at $4,925,356.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joseph Zarella sold 12,269 shares of K12 stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $20.54, for a total transaction of $252,005.26. Following the transaction, the executive vice president now directly owns 105,412 shares in the company, valued at $2,165,162.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,600 shares of company stock worth $1,617,718. Insiders own 18.34% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in K12 by 128.6% in the first quarter. American Century Companies Inc. now owns 102,638 shares of the company’s stock valued at $1,966,000 after buying an additional 57,748 shares in the last quarter. Heartland Advisors Inc. boosted its stake in K12 by 47.6% in the first quarter. Heartland Advisors Inc. now owns 404,433 shares of the company’s stock valued at $7,745,000 after buying an additional 130,341 shares in the last quarter. Wells Fargo & Company MN boosted its stake in K12 by 2.0% in the first quarter. Wells Fargo & Company MN now owns 48,640 shares of the company’s stock valued at $932,000 after buying an additional 973 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in K12 during the first quarter valued at approximately $4,129,000. Finally, Russell Investments Group Ltd. boosted its stake in K12 by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 240,733 shares of the company’s stock valued at $4,609,000 after buying an additional 1,029 shares in the last quarter. 79.23% of the stock is currently owned by institutional investors.

About K12

K12 Inc (K12) is a technology-based education company. The Company offers curriculum, software systems and educational services designed to facilitate individualized learning for students in kindergarten through 12th grade (K-12). It provides a continuum of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.

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