Wedge Capital Management L L P NC Buys New Holdings in K12 Inc. (LRN)
Wedge Capital Management L L P NC bought a new stake in K12 Inc. (NYSE:LRN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,817 shares of the company’s stock, valued at approximately $172,000.
Other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings 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 valued at $123,000 after buying an additional 5,733 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of K12 by 3.7% in the second quarter. Legal & General Group Plc now owns 8,346 shares of the company’s stock valued at $150,000 after buying an additional 298 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of K12 in the second quarter valued at about $248,000. SG Americas Securities LLC raised its holdings in shares of K12 by 91.1% in the third quarter. SG Americas Securities LLC now owns 14,007 shares of the company’s stock valued at $250,000 after buying an additional 6,678 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of K12 by 10.6% in the second quarter. Voya Investment Management LLC now owns 17,375 shares of the company’s stock valued at $311,000 after buying an additional 1,664 shares during the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.
In other news, insider Nathaniel A. Davis sold 20,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $18.08, for a total transaction of $361,600.00. Following the transaction, the insider now directly owns 353,874 shares in the company, valued at $6,398,041.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Howard D. Polsky sold 6,099 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $17.50, for a total transaction of $106,732.50. Following the transaction, the general counsel now owns 128,728 shares in the company, valued at $2,252,740. The disclosure for this sale can be found here. Insiders own 18.34% of the company’s stock.
K12 (NYSE:LRN) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. K12 had a net margin of 0.89% and a return on equity of 4.39%. The business had revenue of $217.20 million for the quarter, compared to analyst estimates of $220.92 million. During the same period in the previous year, the business posted $0.30 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. research analysts predict that K12 Inc. will post 0.63 EPS for the current year.
A number of brokerages have recently commented on LRN. Zacks Investment Research cut shares of K12 from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. BMO Capital Markets reiterated a “buy” rating and set a $21.00 price target on shares of K12 in a research note on Wednesday, October 25th.
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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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