Janus Capital Management LLC bought a new stake in K12 Inc (NYSE:LRN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,378 shares of the company’s stock, valued at approximately $850,000. Janus Capital Management LLC owned approximately 0.12% of K12 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in shares of K12 by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 32,868 shares of the company’s stock valued at $564,000 after buying an additional 90 shares in the last quarter. State Street Corp raised its position in shares of K12 by 3.7% in the fourth quarter. State Street Corp now owns 770,350 shares of the company’s stock valued at $13,218,000 after buying an additional 27,630 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of K12 by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,468,360 shares of the company’s stock valued at $42,358,000 after buying an additional 268,503 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of K12 by 71.8% in the fourth quarter. Renaissance Technologies LLC now owns 298,200 shares of the company’s stock valued at $5,117,000 after buying an additional 124,600 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of K12 by 8.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 24,896 shares of the company’s stock valued at $427,000 after buying an additional 1,983 shares in the last quarter. 79.23% of the stock is owned by institutional investors and hedge funds.
K12 Inc (LRN) opened at 17.99 on Friday. K12 Inc has a 12 month low of $10.17 and a 12 month high of $21.18. The company’s 50-day moving average price is $18.31 and its 200 day moving average price is $18.59. The company has a market capitalization of $688.12 million, a price-to-earnings ratio of 119.14 and a beta of -0.21.
K12 (NYSE:LRN) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.16. The business had revenue of $222.50 million during the quarter, compared to the consensus estimate of $215.69 million. K12 had a net margin of 0.67% and a return on equity of 3.19%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. Analysts forecast that K12 Inc will post $0.41 EPS for the current fiscal year.
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Several research analysts recently issued reports on LRN shares. TheStreet raised K12 from a “c+” rating to a “b-” rating in a research report on Monday, April 3rd. BMO Capital Markets reaffirmed a “buy” rating and set a $22.00 target price on shares of K12 in a research report on Wednesday, April 12th. Finally, Zacks Investment Research raised K12 from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $17.75.
In other K12 news, insider Nathaniel A. Davis sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $20.46, for a total value of $51,150.00. Following the completion of the sale, the insider now directly owns 788,695 shares of the company’s stock, valued at $16,136,699.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Jeaho Rhyu sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $18.79, for a total transaction of $93,950.00. Following the completion of the sale, the chief financial officer now directly owns 280,624 shares of the company’s stock, valued at $5,272,924.96. The disclosure for this sale can be found here. Insiders sold 82,600 shares of company stock valued at $1,617,718 over the last three months. 18.34% of the stock is currently owned by insiders.
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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