K12 (NYSE:LRN) Rating Lowered to Hold at ValuEngine

K12 (NYSE:LRN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

LRN has been the subject of a number of other reports. Barrington Research reissued a “buy” rating and issued a $40.00 target price on shares of K12 in a research note on Thursday, June 13th. Zacks Investment Research cut K12 from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. K12 currently has an average rating of “Hold” and an average price target of $31.00.

NYSE:LRN traded down $1.33 on Thursday, reaching $28.47. The company’s stock had a trading volume of 355,105 shares, compared to its average volume of 156,145. K12 has a 1-year low of $16.07 and a 1-year high of $37.43. The company has a current ratio of 3.51, a quick ratio of 3.39 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 2.24 and a beta of 0.06. The stock’s 50-day moving average price is $30.38.

Several hedge funds have recently bought and sold shares of LRN. SG Capital Management LLC acquired a new position in shares of K12 during the first quarter worth about $6,751,000. JPMorgan Chase & Co. boosted its position in shares of K12 by 17.1% during the first quarter. JPMorgan Chase & Co. now owns 1,237,894 shares of the company’s stock worth $42,249,000 after buying an additional 180,672 shares during the period. Millennium Management LLC boosted its position in shares of K12 by 45.9% during the fourth quarter. Millennium Management LLC now owns 536,657 shares of the company’s stock worth $13,304,000 after buying an additional 168,897 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of K12 during the first quarter worth about $4,229,000. Finally, First Trust Advisors LP boosted its position in shares of K12 by 169.5% during the second quarter. First Trust Advisors LP now owns 184,272 shares of the company’s stock worth $5,604,000 after buying an additional 115,887 shares during the period. 86.38% of the stock is owned by institutional investors.

About K12

K12 Inc, a technology-based education company, together with its subsidiaries, provides online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade in the United States and internationally. The company also offers curriculum and technology solutions for full-time virtual and blended programs; full-time virtual programs, semester courses, and supplemental educational products; teacher training, teaching, and other academic and technology support services to public schools, school districts, private schools, charter schools, early childhood learning centers, and corporate partners.

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