Renaissance Technologies LLC reduced its stake in shares of K12 Inc (NYSE:LRN) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 297,700 shares of the company’s stock after selling 500 shares during the period. Renaissance Technologies LLC owned 0.78% of K12 worth $5,701,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC increased its position in shares of K12 by 639.9% in the first quarter. Acrospire Investment Management LLC now owns 6,541 shares of the company’s stock worth $125,000 after buying an additional 5,657 shares during the period. 1st Global Advisors Inc. bought a new position in shares of K12 during the first quarter worth about $223,000. UBS Asset Management Americas Inc. bought a new position in shares of K12 during the first quarter worth about $255,000. Citadel Advisors LLC bought a new position in shares of K12 during the first quarter worth about $262,000. Finally, Victory Capital Management Inc. bought a new position in shares of K12 during the first quarter worth about $299,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.
Shares of K12 Inc (LRN) traded down 1.74% during trading on Friday, hitting $16.99. The stock had a trading volume of 223,125 shares. The company has a market capitalization of $658.48 million, a PE ratio of 1699.00 and a beta of -0.20. The firm has a 50-day moving average price of $17.89 and a 200 day moving average price of $18.65. K12 Inc has a 52 week low of $10.17 and a 52 week high of $21.18.
A number of equities analysts have recently issued reports on LRN shares. BMO Capital Markets restated a “buy” rating on shares of K12 in a research report on Friday, April 28th. Zacks Investment Research downgraded K12 from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, BidaskClub downgraded K12 from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. K12 currently has a consensus rating of “Buy” and an average price target of $18.67.
In other K12 news, EVP Allison Cleveland sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $18.66, for a total transaction of $104,496.00. Following the completion of the transaction, the executive vice president now owns 99,916 shares of the company’s stock, valued at approximately $1,864,432.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Jeaho Rhyu sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $18.03, for a total value of $180,300.00. Following the transaction, the chief financial officer now directly owns 238,108 shares of the company’s stock, valued at approximately $4,293,087.24. The disclosure for this sale can be found here. Insiders have sold a total of 55,600 shares of company stock valued at $1,014,046 in the last ninety days. 18.34% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for K12 Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for K12 Inc and related companies with MarketBeat.com's FREE daily email newsletter.
