BlackRock Advisors LLC raised its stake in shares of K12 Inc. (NYSE:LRN) by 16.8% during the third quarter, Holdings Channel reports. The institutional investor owned 147,963 shares of the company’s stock after buying an additional 21,312 shares during the period. BlackRock Advisors LLC’s holdings in K12 were worth $2,123,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in LRN. Emerald Acquisition Ltd. acquired a new stake in shares of K12 during the second quarter valued at about $2,624,000. Bank of New York Mellon Corp increased its stake in shares of K12 by 98.1% in the second quarter. Bank of New York Mellon Corp now owns 414,467 shares of the company’s stock valued at $5,177,000 after buying an additional 205,220 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of K12 by 10.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,993,586 shares of the company’s stock valued at $24,899,000 after buying an additional 190,797 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of K12 by 7.6% in the second quarter. Vanguard Group Inc. now owns 2,265,103 shares of the company’s stock valued at $28,292,000 after buying an additional 159,391 shares in the last quarter. Finally, Spark Investment Management LLC increased its stake in shares of K12 by 62.0% in the second quarter. Spark Investment Management LLC now owns 331,000 shares of the company’s stock valued at $4,134,000 after buying an additional 126,700 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.
K12 Inc. (NYSE:LRN) traded down 0.97% during midday trading on Thursday, hitting $16.30. The stock had a trading volume of 252,022 shares. The stock has a market cap of $616.73 million, a P/E ratio of 80.30 and a beta of 0.23. K12 Inc. has a 52 week low of $7.48 and a 52 week high of $17.84. The company has a 50-day moving average price of $16.79 and a 200-day moving average price of $13.90.
K12 (NYSE:LRN) last announced its quarterly earnings data on Wednesday, October 26th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.03. The business earned $229.10 million during the quarter, compared to the consensus estimate of $225.87 million. K12 had a net margin of 0.91% and a return on equity of 2.28%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.34) EPS. Equities analysts expect that K12 Inc. will post $0.41 EPS for the current year.
LRN has been the subject of a number of research reports. Barrington Research raised K12 from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $13.00 to $15.00 in a report on Thursday, October 27th. BMO Capital Markets raised K12 from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $13.00 to $15.00 in a report on Thursday, October 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $13.75.
In other K12 news, EVP Allison Cleveland sold 7,113 shares of the company’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $17.33, for a total value of $123,268.29. Following the completion of the transaction, the executive vice president now owns 99,211 shares in the company, valued at approximately $1,719,326.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.34% of the stock is owned by corporate insiders.
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.
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