Nationwide Fund Advisors Boosts Stake in K12 Inc. (LRN)
Nationwide Fund Advisors increased its position in K12 Inc. (NYSE:LRN) by 65.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,942 shares of the company’s stock after buying an additional 57,392 shares during the period. Nationwide Fund Advisors owned approximately 0.39% of K12 worth $1,810,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Boothbay Fund Management LLC bought a new position in shares of K12 during the first quarter worth $108,000. Smith Asset Management Group LP raised its position in shares of K12 by 68.6% in the second quarter. Smith Asset Management Group LP now owns 10,570 shares of the company’s stock worth $132,000 after buying an additional 4,300 shares in the last quarter. Airain ltd bought a new position in shares of K12 during the second quarter worth $205,000. Springbok Capital Management LLC raised its position in shares of K12 by 86.0% in the first quarter. Springbok Capital Management LLC now owns 27,524 shares of the company’s stock worth $272,000 after buying an additional 12,730 shares in the last quarter. Finally, Landscape Capital Management L.L.C. raised its position in shares of K12 by 33.3% in the first quarter. Landscape Capital Management L.L.C. now owns 40,834 shares of the company’s stock worth $404,000 after buying an additional 10,194 shares in the last quarter. Hedge funds and other institutional investors own 80.71% of the company’s stock.
K12 Inc. (NYSE:LRN) traded down 0.56% during trading on Friday, reaching $14.12. 102,110 shares of the company’s stock traded hands. The company has a 50-day moving average price of $13.43 and a 200 day moving average price of $12.16. K12 Inc. has a one year low of $7.11 and a one year high of $14.91. The firm has a market capitalization of $530.19 million, a PE ratio of 61.39 and a beta of 0.59.
K12 (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.04. K12 had a return on equity of 2.49% and a net margin of 1.04%. The company had revenue of $221.30 million for the quarter, compared to analyst estimates of $210.13 million. During the same period in the prior year, the business earned $0.18 earnings per share. K12’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts anticipate that K12 Inc. will post $0.43 earnings per share for the current fiscal year.
Several research firms have commented on LRN. TheStreet upgraded shares of K12 from a “sell” rating to a “hold” rating in a research report on Friday, July 8th. Barrington Research reiterated a “market perform” rating on shares of K12 in a research report on Friday, July 15th. Finally, First Analysis upgraded shares of K12 from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a research report on Wednesday, August 10th.
K12 Company Profile
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 range of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.
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