K12 Inc (LRN) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. raised its holdings in K12 Inc (NYSE:LRN) by 6.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,768 shares of the company’s stock after buying an additional 4,513 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of K12 worth $1,370,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of K12 by 21.5% in the third quarter. First Trust Advisors LP now owns 97,947 shares of the company’s stock worth $1,747,000 after purchasing an additional 17,350 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of K12 by 508.7% in the second quarter. Tower Research Capital LLC TRC now owns 6,860 shares of the company’s stock worth $123,000 after purchasing an additional 5,733 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of K12 by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 26,520 shares of the company’s stock worth $475,000 after purchasing an additional 143 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of K12 in the second quarter worth about $248,000. Finally, State Street Corp raised its stake in shares of K12 by 2.0% in the second quarter. State Street Corp now owns 762,746 shares of the company’s stock worth $13,672,000 after purchasing an additional 14,935 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.
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Several research analysts have recently issued reports on the company. Zacks Investment Research cut K12 from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BMO Capital Markets restated a “buy” rating and issued a $21.00 price objective on shares of K12 in a research note on Wednesday, October 25th. Finally, TheStreet cut K12 from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th.
K12 Inc (LRN) opened at $16.01 on Thursday. K12 Inc has a 12 month low of $13.81 and a 12 month high of $21.18. The stock has a market capitalization of $667.52, a PE ratio of 26.92, a PEG ratio of 2.11 and a beta of -0.26. The company has a quick ratio of 3.43, a current ratio of 3.57 and a debt-to-equity ratio of 0.03.
K12 (NYSE:LRN) last announced its quarterly earnings data on Thursday, October 26th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.15. K12 had a return on equity of 4.16% and a net margin of 0.70%. The firm had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $235.15 million. During the same period last year, the business posted ($0.36) earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. research analysts anticipate that K12 Inc will post 0.51 EPS for the current year.
In other news, CFO James Jeaho Rhyu sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $18.00, for a total value of $180,000.00. Following the completion of the transaction, the chief financial officer now directly owns 201,881 shares in the company, valued at $3,633,858. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 50,000 shares of company stock valued at $900,000. 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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