Strs Ohio Lowers Stake in K12 Inc. (LRN)

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Strs Ohio cut its position in shares of K12 Inc. (NYSE:LRN) by 12.7% during the third quarter, HoldingsChannel.com reports. The firm owned 43,900 shares of the company’s stock after selling 6,400 shares during the period. Strs Ohio’s holdings in K12 were worth $777,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in K12 in the first quarter worth $143,000. Quantitative Systematic Strategies LLC acquired a new position in K12 in the second quarter worth $171,000. Jane Street Group LLC acquired a new position in K12 in the first quarter worth $158,000. Paloma Partners Management Co acquired a new position in K12 in the second quarter worth $249,000. Finally, Engineers Gate Manager LP acquired a new position in K12 in the second quarter worth $261,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Shares of LRN opened at $22.18 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.95 and a debt-to-equity ratio of 0.04. K12 Inc. has a 12-month low of $12.72 and a 12-month high of $24.67. The firm has a market cap of $889.08 million, a PE ratio of 32.62, a PEG ratio of 1.94 and a beta of -0.06.

K12 (NYSE:LRN) last issued its quarterly earnings results on Tuesday, October 23rd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.11. K12 had a return on equity of 4.67% and a net margin of 2.91%. The business had revenue of $251.30 million for the quarter, compared to analyst estimates of $226.82 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that K12 Inc. will post 0.76 EPS for the current fiscal year.

In other news, General Counsel Howard D. Polsky sold 2,091 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $17.50, for a total transaction of $36,592.50. Following the transaction, the general counsel now owns 132,072 shares of the company’s stock, valued at $2,311,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Chavous sold 7,000 shares of the company’s stock in a transaction on Friday, October 26th. The shares were sold at an average price of $21.99, for a total value of $153,930.00. Following the transaction, the insider now directly owns 91,440 shares in the company, valued at approximately $2,010,765.60. The disclosure for this sale can be found here. Insiders have sold 70,661 shares of company stock worth $1,461,383 in the last ninety days. 7.00% of the stock is currently owned by insiders.

A number of research firms have commented on LRN. ValuEngine raised K12 from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Zacks Investment Research raised K12 from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Saturday, October 27th. Barrington Research reissued a “buy” rating and issued a $22.00 price objective on shares of K12 in a research note on Thursday, August 9th. Finally, BMO Capital Markets boosted their price objective on K12 from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 24th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. K12 currently has an average rating of “Buy” and an average target price of $23.33.

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K12 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.

Further Reading: Understanding Market Liquidity

Want to see what other hedge funds are holding LRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for K12 Inc. (NYSE:LRN).

Institutional Ownership by Quarter for K12 (NYSE:LRN)

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