New York State Common Retirement Fund cut its stake in K12 Inc. (NYSE:LRN) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 264,603 shares of the company’s stock after selling 7,988 shares during the quarter. New York State Common Retirement Fund owned 0.66% of K12 worth $6,560,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in shares of K12 in the 4th quarter valued at approximately $44,000. Group One Trading L.P. acquired a new stake in shares of K12 in the 4th quarter valued at approximately $56,000. Quantamental Technologies LLC acquired a new stake in shares of K12 in the 4th quarter valued at approximately $92,000. One Wealth Advisors LLC acquired a new stake in shares of K12 in the 3rd quarter valued at approximately $159,000. Finally, Trexquant Investment LP acquired a new stake in shares of K12 in the 3rd quarter valued at approximately $180,000. 83.11% of the stock is owned by institutional investors.
LRN opened at $33.62 on Friday. K12 Inc. has a 1-year low of $12.72 and a 1-year high of $33.85. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.35 billion, a P/E ratio of 49.44, a price-to-earnings-growth ratio of 2.84 and a beta of 0.16.
K12 (NYSE:LRN) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. K12 had a return on equity of 6.40% and a net margin of 3.87%. The business had revenue of $254.90 million for the quarter, compared to analysts’ expectations of $250.80 million. During the same quarter in the prior year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities analysts expect that K12 Inc. will post 0.79 earnings per share for the current year.
Several research firms have recently commented on LRN. Zacks Investment Research downgraded K12 from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 26th. ValuEngine upgraded K12 from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 29th. Sidoti began coverage on K12 in a research note on Wednesday, January 2nd. They issued a “neutral” rating and a $29.00 price target on the stock. Finally, Barrington Research restated an “outperform” rating and issued a $30.00 price target (up previously from $25.00) on shares of K12 in a research note on Wednesday, January 23rd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.25.
In other K12 news, insider Kevin Chavous sold 4,000 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $31.07, for a total transaction of $124,280.00. Following the transaction, the insider now owns 85,221 shares in the company, valued at approximately $2,647,816.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nathaniel A. Davis sold 4,300 shares of the stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $26.00, for a total value of $111,800.00. Following the transaction, the chief executive officer now owns 214,778 shares in the company, valued at approximately $5,584,228. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,300 shares of company stock worth $5,547,080. 7.00% of the stock is owned by company insiders.
K12 Company Profile
K12, Inc engages in the provision of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools, and consumers. It offers online curriculum, software systems, and educational services designed to facilitate individualized learning for students primarily in kindergarten through 12th grade.
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