Macquarie Group Ltd. Reduces Position in K12 Inc. (LRN)

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Macquarie Group Ltd. cut its stake in K12 Inc. (NYSE:LRN) by 69.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,387 shares of the company’s stock after selling 9,825 shares during the period. Macquarie Group Ltd.’s holdings in K12 were worth $109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in K12 in the 4th quarter valued at $44,000. Group One Trading L.P. acquired a new position in K12 in the 4th quarter valued at $56,000. Quantamental Technologies LLC acquired a new position in K12 in the 4th quarter valued at $92,000. Advisor Group Inc. raised its holdings in K12 by 3,128.7% in the 4th quarter. Advisor Group Inc. now owns 5,618 shares of the company’s stock valued at $139,000 after acquiring an additional 5,444 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in K12 by 17.4% in the 4th quarter. Legal & General Group Plc now owns 6,774 shares of the company’s stock valued at $168,000 after acquiring an additional 1,005 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on LRN. Barrington Research reaffirmed a “buy” rating and issued a $40.00 price objective (up from $30.00) on shares of K12 in a report on Friday, April 12th. Zacks Investment Research cut K12 from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Sidoti began coverage on K12 in a report on Wednesday, January 2nd. They issued a “neutral” rating and a $29.00 price objective for the company. Finally, ValuEngine raised K12 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $30.75.

In related news, Chairman Nathaniel A. Davis sold 100,000 shares of the business’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $29.06, for a total transaction of $2,906,000.00. Following the sale, the chairman now owns 214,778 shares in the company, valued at approximately $6,241,448.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Chavous sold 4,000 shares of the business’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $31.07, for a total value of $124,280.00. Following the sale, the insider now owns 85,221 shares in the company, valued at approximately $2,647,816.47. The disclosure for this sale can be found here. Insiders have sold a total of 108,300 shares of company stock valued at $3,142,080 in the last three months. 7.00% of the stock is owned by insiders.

K12 stock opened at $35.97 on Thursday. The company has a quick ratio of 3.38, a current ratio of 3.50 and a debt-to-equity ratio of 0.01. K12 Inc. has a 52 week low of $13.68 and a 52 week high of $37.43. The firm has a market cap of $1.48 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 3.14 and a beta of 0.16.

K12 (NYSE:LRN) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. K12 had a return on equity of 6.40% and a net margin of 3.87%. The company had revenue of $254.90 million during the quarter, compared to analysts’ expectations of $250.80 million. During the same quarter in the previous year, the firm earned $0.33 EPS. K12’s revenue was up 17.4% on a year-over-year basis. As a group, research analysts forecast that K12 Inc. will post 0.79 EPS for the current year.

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K12 Profile

K12, Inc engages in the provision of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools, and consumers. It offers online curriculum, software systems, and educational services designed to facilitate individualized learning for students primarily in kindergarten through 12th grade.

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Institutional Ownership by Quarter for K12 (NYSE:LRN)

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