Sawgrass Asset Management LLC bought a new stake in shares of K12 Inc. (NYSE:LRN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,800 shares of the company’s stock, valued at approximately $317,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Quantamental Technologies LLC purchased a new stake in K12 during the 4th quarter valued at $92,000. One Wealth Advisors LLC purchased a new stake in K12 during the 3rd quarter valued at $159,000. Trexquant Investment LP purchased a new stake in K12 during the 3rd quarter valued at $180,000. Ibex Investors LLC purchased a new stake in K12 during the 3rd quarter valued at $206,000. Finally, Simplex Trading LLC purchased a new stake in K12 during the 4th quarter valued at $232,000. 80.76% of the stock is currently owned by institutional investors.
In other news, Chairman Nathaniel A. Davis sold 100,000 shares of the firm’s stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $29.06, for a total value of $2,906,000.00. Following the completion of the sale, the chairman now directly owns 214,778 shares of the company’s stock, valued at approximately $6,241,448.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nathaniel A. Davis sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $26.00, for a total transaction of $111,800.00. Following the completion of the sale, the chief executive officer now directly owns 214,778 shares of the company’s stock, valued at $5,584,228. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,300 shares of company stock valued at $5,422,800. Corporate insiders own 7.00% of the company’s stock.
K12 (NYSE:LRN) last posted its earnings results on Tuesday, January 22nd. The company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. K12 had a net margin of 3.87% and a return on equity of 6.40%. The firm had revenue of $254.90 million during the quarter, compared to analysts’ expectations of $250.80 million. During the same period last year, the company posted $0.33 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts forecast that K12 Inc. will post 0.79 EPS for the current fiscal year.
Several equities research analysts have weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $30.00 price target (up previously from $25.00) on shares of K12 in a research report on Wednesday, January 23rd. BMO Capital Markets increased their price target on shares of K12 from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised shares of K12 from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Friday, January 25th. ValuEngine raised shares of K12 from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Sidoti assumed coverage on shares of K12 in a research report on Wednesday, January 2nd. They set a “neutral” rating and a $29.00 price target for the company. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $28.25.
K12 Company Profile
K12 Inc, a technology-based education company, together with its subsidiaries, provides online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade in the United States and internationally. The company also offers curriculum and technology solutions for full-time virtual and blended programs; full-time virtual programs, semester courses, and supplemental educational products; teacher training, teaching, and other academic and technology support services to public schools, school districts, private schools, charter schools, early childhood learning centers, and corporate partners.
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