Bank of America Corp DE raised its holdings in shares of K12 Inc. (NYSE:LRN) by 582.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,871 shares of the company’s stock after purchasing an additional 190,225 shares during the quarter. Bank of America Corp DE owned approximately 0.55% of K12 worth $6,778,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LRN. Financial Gravity Wealth Inc. purchased a new stake in K12 during the second quarter valued at about $28,000. Meeder Asset Management Inc. lifted its holdings in K12 by 262.1% during the second quarter. Meeder Asset Management Inc. now owns 1,434 shares of the company’s stock valued at $43,000 after purchasing an additional 1,038 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in K12 during the second quarter valued at about $61,000. Tower Research Capital LLC TRC lifted its holdings in K12 by 56.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,140 shares of the company’s stock valued at $65,000 after purchasing an additional 775 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in K12 during the second quarter valued at about $100,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of K12 stock opened at $25.70 on Friday. K12 Inc. has a 12-month low of $16.19 and a 12-month high of $37.43. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.80 and a beta of 0.14. The company has a current ratio of 3.40, a quick ratio of 3.21 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $26.99 and its 200-day moving average price is $30.35.
K12 (NYSE:LRN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. K12 had a net margin of 3.66% and a return on equity of 6.11%. The firm had revenue of $256.31 million for the quarter, compared to the consensus estimate of $248.43 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts predict that K12 Inc. will post 0.95 earnings per share for the current year.
LRN has been the topic of several recent research reports. Zacks Investment Research downgraded shares of K12 from a “strong-buy” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded shares of K12 from a “hold” rating to a “sell” rating in a report on Thursday. BMO Capital Markets lowered their price target on shares of K12 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TheStreet downgraded shares of K12 from a “b” rating to a “c+” rating in a report on Tuesday, August 13th. Finally, Sidoti raised shares of K12 from a “neutral” rating to a “buy” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.25.
K12 Inc, a technology-based education company, together with its subsidiaries, provides online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade in the United States and internationally. The company also offers curriculum and technology solutions for full-time virtual and blended programs; full-time virtual programs, semester courses, and supplemental educational products; teacher training, teaching, and other academic and technology support services to public schools, school districts, private schools, charter schools, early childhood learning centers, and corporate partners.
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