Bessemer Group Inc. Buys Shares of 47,200 K12 Inc (LRN)
Bessemer Group Inc. bought a new position in shares of K12 Inc (NYSE:LRN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 47,200 shares of the company’s stock, valued at approximately $846,000.
Other large investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in K12 by 639.9% in the first quarter. Acrospire Investment Management LLC now owns 6,541 shares of the company’s stock worth $125,000 after buying an additional 5,657 shares during the period. Victory Capital Management Inc. acquired a new stake in K12 during the first quarter worth approximately $299,000. American Century Companies Inc. increased its stake in K12 by 128.6% in the first quarter. American Century Companies Inc. now owns 102,638 shares of the company’s stock worth $1,966,000 after buying an additional 57,748 shares during the period. Janus Capital Management LLC acquired a new stake in K12 during the first quarter worth approximately $850,000. Finally, Hennessy Advisors Inc. acquired a new stake in K12 during the first quarter worth approximately $4,129,000. 78.63% of the stock is owned by institutional investors.
Shares of K12 Inc (LRN) opened at 17.36 on Wednesday. The firm has a 50-day moving average price of $17.89 and a 200-day moving average price of $18.67. K12 Inc has a 12-month low of $10.17 and a 12-month high of $21.18. The firm has a market cap of $671.52 million, a P/E ratio of 1736.00 and a beta of -0.20.
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A number of equities research analysts have commented on LRN shares. Zacks Investment Research downgraded K12 from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. BMO Capital Markets reissued a “buy” rating on shares of K12 in a report on Friday, April 28th. Finally, BidaskClub downgraded K12 from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $18.67.
In other news, CFO James Jeaho Rhyu sold 10,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $18.03, for a total value of $180,300.00. Following the completion of the transaction, the chief financial officer now owns 238,108 shares of the company’s stock, valued at $4,293,087.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allison Cleveland sold 5,600 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $18.66, for a total value of $104,496.00. Following the completion of the transaction, the executive vice president now directly owns 99,916 shares of the company’s stock, valued at approximately $1,864,432.56. The disclosure for this sale can be found here. In the last three months, insiders sold 55,600 shares of company stock valued at $1,014,046. Company insiders own 18.34% of the company’s stock.
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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