K12 Inc. (LRN) Position Cut by Ameriprise Financial Inc.
Ameriprise Financial Inc. decreased its stake in shares of K12 Inc. (NYSE:LRN) by 15.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 373,602 shares of the company’s stock after selling 70,870 shares during the period. Ameriprise Financial Inc. owned about 1.00% of K12 worth $4,667,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of K12 by 31.8% in the second quarter. Acadian Asset Management LLC now owns 1,353,085 shares of the company’s stock valued at $16,899,000 after buying an additional 326,198 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of K12 during the second quarter valued at approximately $2,624,000. Teachers Advisors Inc. boosted its position in shares of K12 by 5.0% in the first quarter. Teachers Advisors Inc. now owns 458,199 shares of the company’s stock valued at $4,532,000 after buying an additional 21,842 shares in the last quarter. Springbok Capital Management LLC boosted 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 valued at $272,000 after buying an additional 12,730 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of K12 during the second quarter valued at approximately $1,757,000. 80.71% of the stock is owned by institutional investors.
Shares of K12 Inc. (NYSE:LRN) traded down 0.64% during midday trading on Monday, reaching $14.03. 5,718 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $13.43 and its 200 day moving average price is $12.16. The firm has a market capitalization of $526.81 million, a PE ratio of 61.00 and a beta of 0.58. K12 Inc. has a one year low of $7.11 and a one year high of $14.91.
K12 (NYSE:LRN) last posted its earnings results on Tuesday, August 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The company had revenue of $221.30 million for the quarter, compared to the consensus estimate of $210.13 million. K12 had a net margin of 1.04% and a return on equity of 2.49%. K12’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. On average, equities research analysts expect that K12 Inc. will post $0.43 earnings per share for the current fiscal year.
Several equities analysts recently commented on LRN shares. TheStreet raised shares of K12 from a “sell” rating to a “hold” rating in a research note 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 target price 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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