First Trust Advisors LP cut its position in K12 Inc. (NYSE:LRN) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 16,541 shares of the company’s stock after selling 1,012 shares during the period. First Trust Advisors LP’s holdings in K12 were worth $207,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Boothbay Fund Management LLC acquired a new stake in shares of K12 during the first quarter worth $108,000. Smith Asset Management Group LP boosted its stake in K12 by 68.6% in the second quarter. Smith Asset Management Group LP now owns 10,570 shares of the company’s stock worth $132,000 after buying an additional 4,300 shares during the last quarter. Springbok Capital Management LLC boosted its stake in K12 by 86.0% in the first quarter. Springbok Capital Management LLC now owns 27,524 shares of the company’s stock worth $272,000 after buying an additional 12,730 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in K12 by 33.3% in the first quarter. Landscape Capital Management L.L.C. now owns 40,834 shares of the company’s stock worth $404,000 after buying an additional 10,194 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in K12 by 4.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 32,464 shares of the company’s stock worth $405,000 after buying an additional 1,401 shares during the last quarter. Institutional investors and hedge funds own 80.71% of the company’s stock.
Shares of K12 Inc. (NYSE:LRN) traded up 0.64% on Tuesday, reaching $14.24. 10,521 shares of the company were exchanged. The firm’s 50 day moving average price is $13.51 and its 200 day moving average price is $12.22. The stock has a market capitalization of $534.70 million, a price-to-earnings ratio of 61.91 and a beta of 0.58. K12 Inc. has a 52 week low of $7.11 and a 52 week high of $14.91.
K12 (NYSE:LRN) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.04. K12 had a net margin of 1.04% and a return on equity of 2.49%. The company had revenue of $221.30 million for the quarter, compared to the consensus estimate of $210.13 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that K12 Inc. will post $0.43 EPS for the current year.
LRN has been the topic of a number of recent analyst reports. TheStreet upgraded shares of K12 from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Barrington Research reiterated a “market perform” rating on shares of K12 in a report on Friday, July 15th. Finally, First Analysis upgraded shares of K12 from an “equal weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Wednesday, August 10th.
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 range of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.
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