California State Teachers Retirement System lessened its position in K12 Inc (NYSE:LRN) by 9.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,381 shares of the company’s stock after selling 6,200 shares during the period. California State Teachers Retirement System owned 0.15% of K12 worth $1,082,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Gotham Asset Management LLC bought a new stake in shares of K12 during the 2nd quarter valued at about $359,000. Vanguard Group Inc. boosted its stake in shares of K12 by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,787,709 shares of the company’s stock valued at $49,955,000 after purchasing an additional 50,164 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of K12 by 19.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 323,207 shares of the company’s stock valued at $5,792,000 after purchasing an additional 52,969 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of K12 during the 2nd quarter valued at about $1,444,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of K12 by 33.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 321,890 shares of the company’s stock valued at $5,768,000 after purchasing an additional 81,157 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO James Jeaho Rhyu sold 15,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $18.00, for a total transaction of $270,000.00. Following the sale, the chief financial officer now owns 204,591 shares of the company’s stock, valued at $3,682,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 50,000 shares of company stock worth $900,000 in the last three months. 18.34% of the stock is currently owned by insiders.
Shares of K12 Inc (LRN) opened at $15.95 on Friday. K12 Inc has a 52 week low of $13.98 and a 52 week high of $21.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.43 and a current ratio of 3.57. The company has a market cap of $659.26, a PE ratio of 26.58, a P/E/G ratio of 2.08 and a beta of -0.26.
K12 (NYSE:LRN) last posted its quarterly earnings data on Thursday, October 26th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.15. K12 had a net margin of 0.70% and a return on equity of 4.16%. The business had revenue of $228.80 million for the quarter, compared to analyst estimates of $235.15 million. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. K12’s quarterly revenue was down .1% on a year-over-year basis. analysts expect that K12 Inc will post 0.51 EPS for the current fiscal year.
LRN has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “buy” rating and set a $21.00 target price on shares of K12 in a research note on Wednesday, October 25th. Zacks Investment Research lowered shares of K12 from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, TheStreet lowered shares of K12 from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th.
ILLEGAL ACTIVITY WARNING: “K12 Inc (LRN) Holdings Cut by California State Teachers Retirement System” was first reported by Transcript Daily and is owned by of Transcript Daily. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://transcriptdaily.com/2017/11/26/k12-inc-lrn-holdings-cut-by-california-state-teachers-retirement-system.html.
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.
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).
Receive News & Ratings for K12 Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for K12 Inc and related companies with MarketBeat.com's FREE daily email newsletter.