Acadian Asset Management LLC decreased its position in shares of K12 Inc. (NYSE:LRN) by 74.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,684 shares of the company’s stock after selling 616,351 shares during the quarter. Acadian Asset Management LLC owned about 0.50% of K12 worth $5,469,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in LRN. Standard Life Aberdeen plc acquired a new position in shares of K12 during the third quarter valued at $20,330,000. Portolan Capital Management LLC boosted its holdings in shares of K12 by 98.4% during the second quarter. Portolan Capital Management LLC now owns 990,559 shares of the company’s stock valued at $26,983,000 after acquiring an additional 491,161 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of K12 during the third quarter valued at $11,732,000. Silvercrest Asset Management Group LLC acquired a new position in shares of K12 during the second quarter valued at $9,746,000. Finally, Alyeska Investment Group L.P. lifted its holdings in K12 by 145.7% in the second quarter. Alyeska Investment Group L.P. now owns 437,725 shares of the company’s stock worth $11,924,000 after purchasing an additional 259,579 shares during the period. 89.24% of the stock is owned by institutional investors.
A number of equities analysts have recently weighed in on the company. Sidoti upgraded K12 from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Friday, September 4th. ValuEngine downgraded K12 from a “hold” rating to a “sell” rating in a report on Tuesday, October 27th. Barrington Research upped their target price on K12 from $30.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Zacks Investment Research raised K12 from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research note on Saturday, October 31st. Finally, TheStreet raised K12 from a “c+” rating to a “b-” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. K12 currently has a consensus rating of “Buy” and a consensus price target of $44.25.
K12 (NYSE:LRN) last announced its earnings results on Monday, October 26th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.64. The firm had revenue of $370.96 million during the quarter, compared to analysts’ expectations of $362.56 million. K12 had a return on equity of 6.92% and a net margin of 4.06%. The company’s revenue was up 44.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.25) earnings per share. On average, analysts predict that K12 Inc. will post 1.35 EPS for the current year.
K12 Company Profile
K12 Inc, a technology-based education company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally. The company offers managed public school programs, which offer an integrated package of systems, services, products, and professional services that K12 administers to support an online or blended public school, including administrative support, information technology and provisioning, academic support, curriculum, learning systems, and instructional services.
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