Strs Ohio Boosts Position in K12 Inc (LRN)

Strs Ohio boosted its stake in shares of K12 Inc (NYSE:LRN) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,700 shares of the company’s stock after buying an additional 700 shares during the period. Strs Ohio owned about 0.10% of K12 worth $729,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in K12 by 16.1% in the fourth quarter. Teachers Advisors LLC now owns 85,604 shares of the company’s stock valued at $1,469,000 after buying an additional 11,851 shares in the last quarter. Shell Asset Management Co. purchased a new stake in K12 during the first quarter valued at $1,109,000. Russell Investments Group Ltd. raised its stake in K12 by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 240,733 shares of the company’s stock valued at $4,609,000 after buying an additional 1,029 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in K12 during the first quarter valued at $4,129,000. Finally, Wells Fargo & Company MN raised its stake in K12 by 2.0% in the first quarter. Wells Fargo & Company MN now owns 48,640 shares of the company’s stock valued at $932,000 after buying an additional 973 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Shares of K12 Inc (NYSE:LRN) opened at 17.29 on Tuesday. K12 Inc has a 12-month low of $10.17 and a 12-month high of $21.18. The firm has a 50-day moving average price of $17.83 and a 200 day moving average price of $18.60. The company has a market capitalization of $668.81 million, a P/E ratio of 1729.00 and a beta of -0.20.

Several equities research analysts recently weighed in 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 raised K12 from a “hold” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a report on Tuesday, May 2nd. BidaskClub downgraded K12 from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, TheStreet downgraded K12 from a “b-” rating to a “c+” rating in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.67.

In other news, CFO James Jeaho Rhyu sold 5,000 shares of K12 stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $18.79, for a total value of $93,950.00. Following the transaction, the chief financial officer now directly owns 280,624 shares in the company, valued at approximately $5,272,924.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allison Cleveland sold 5,600 shares of K12 stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $18.66, for a total value of $104,496.00. Following the completion of the transaction, the executive vice president now owns 99,916 shares in the company, valued at $1,864,432.56. The disclosure for this sale can be found here. Insiders sold a total of 55,600 shares of company stock worth $1,014,046 over the last quarter. Company insiders own 18.34% of the company’s stock.

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.