Highbridge Capital Management LLC lessened its position in K12 Inc (NYSE:LRN) by 55.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,399 shares of the company’s stock after selling 17,583 shares during the period. Highbridge Capital Management LLC’s holdings in K12 were worth $256,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of LRN. Dimensional Fund Advisors LP grew its holdings in shares of K12 by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,110,388 shares of the company’s stock valued at $55,490,000 after buying an additional 113,779 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of K12 by 1.8% during the second quarter. Vanguard Group Inc. now owns 2,787,709 shares of the company’s stock valued at $49,955,000 after buying an additional 50,164 shares in the last quarter. Numeric Investors LLC grew its holdings in shares of K12 by 18.4% during the second quarter. Numeric Investors LLC now owns 1,207,595 shares of the company’s stock valued at $21,640,000 after buying an additional 187,800 shares in the last quarter. Palisade Capital Management LLC NJ grew its holdings in shares of K12 by 7.9% during the third quarter. Palisade Capital Management LLC NJ now owns 1,196,274 shares of the company’s stock valued at $21,342,000 after buying an additional 87,747 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in K12 by 12.4% in the second quarter. JPMorgan Chase & Co. now owns 939,687 shares of the company’s stock valued at $16,839,000 after purchasing an additional 103,927 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
A number of brokerages have weighed in on LRN. Zacks Investment Research cut K12 from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. BMO Capital Markets reissued a “buy” rating and set a $21.00 price objective on shares of K12 in a research report on Wednesday, October 25th.
In other news, CFO James Jeaho Rhyu sold 15,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $18.00, for a total value of $270,000.00. Following the transaction, the chief financial officer now owns 204,591 shares of the company’s stock, valued at approximately $3,682,638. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.61% of the company’s stock.
K12 Inc (NYSE:LRN) traded up $0.31 during mid-day trading on Thursday, hitting $16.40. The stock had a trading volume of 113,400 shares, compared to its average volume of 151,994. The company has a market cap of $677.86, a price-to-earnings ratio of 102.50, a P/E/G ratio of 2.05 and a beta of -0.26. K12 Inc has a 52 week low of $15.07 and a 52 week high of $21.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.43 and a current ratio of 3.57.
K12 (NYSE:LRN) last posted its quarterly earnings data on Thursday, October 26th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.15. K12 had a return on equity of 4.16% and a net margin of 0.70%. The firm had revenue of $228.80 million for the quarter, compared to the consensus estimate of $235.15 million. During the same quarter in the prior year, the business earned ($0.36) EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. research analysts expect that K12 Inc will post 0.51 earnings per share for the current fiscal year.
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K12 Company Profile
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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