JPMorgan Chase & Co. Reduces Stake in K12 Inc (LRN)

JPMorgan Chase & Co. lowered its stake in shares of K12 Inc (NYSE:LRN) by 4.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 835,760 shares of the company’s stock after selling 38,920 shares during the period. JPMorgan Chase & Co.’s holdings in K12 were worth $16,005,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in K12 during the fourth quarter valued at $4,174,000. State Board of Administration of Florida Retirement System boosted its stake in 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 during the last quarter. State Street Corp boosted its stake in 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 during the last quarter. Finally, Systematic Financial Management LP boosted its stake in K12 by 0.6% in the fourth quarter. Systematic Financial Management LP now owns 272,897 shares of the company’s stock valued at $4,683,000 after buying an additional 1,535 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for K12 (NYSE:LRN)

K12 Inc (NYSE LRN) opened at 18.48 on Tuesday. The stock has a market capitalization of $706.86 million, a price-to-earnings ratio of 122.38 and a beta of -0.18. The stock’s 50 day moving average is $19.45 and its 200 day moving average is $18.42. K12 Inc has a 12-month low of $10.17 and a 12-month high of $21.18.

K12 (NYSE:LRN) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.16. The business had revenue of $222.50 million during the quarter, compared to analysts’ expectations of $215.69 million. K12 had a net margin of 0.67% and a return on equity of 3.19%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted $0.37 earnings per share. Equities analysts predict that K12 Inc will post $0.41 earnings per share for the current fiscal year.

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Several analysts have weighed in 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 reiterated a “buy” rating and set a $22.00 target price on shares of K12 in a report on Wednesday, April 12th. Finally, Zacks Investment Research upgraded shares of K12 from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a report on Tuesday, May 2nd. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. K12 currently has a consensus rating of “Buy” and a consensus target price of $18.25.

In other K12 news, insider Nathaniel A. Davis sold 2,500 shares of the firm’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 transaction, the insider now owns 788,695 shares of the company’s stock, valued at $16,136,699.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allison Cleveland sold 5,600 shares of the firm’s stock in a transaction 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 directly owns 99,916 shares of the company’s stock, valued at approximately $1,864,432.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,600 shares of company stock valued at $1,255,718. Corporate insiders own 18.34% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LRN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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