Macquarie Group Ltd. Buys New Position in K12 Inc (LRN)
Macquarie Group Ltd. bought a new position in K12 Inc (NYSE:LRN) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 28,312 shares of the company’s stock, valued at approximately $505,000. Macquarie Group Ltd. owned about 0.07% of K12 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in LRN. Dimensional Fund Advisors LP boosted its stake in shares of K12 by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,996,609 shares of the company’s stock worth $53,700,000 after buying an additional 227,364 shares during the last quarter. Numeric Investors LLC lifted its stake in K12 by 18.4% in the second quarter. Numeric Investors LLC now owns 1,207,595 shares of the company’s stock valued at $21,640,000 after purchasing an additional 187,800 shares during the last quarter. Martingale Asset Management L P lifted its stake in K12 by 159.3% in the second quarter. Martingale Asset Management L P now owns 183,644 shares of the company’s stock valued at $3,291,000 after purchasing an additional 112,825 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in K12 by 12.4% in the second quarter. JPMorgan Chase & Co. now owns 939,687 shares of the company’s stock valued at $16,839,000 after purchasing an additional 103,927 shares during the last quarter. Finally, Palisade Capital Management LLC NJ lifted its stake in K12 by 7.9% in the third quarter. Palisade Capital Management LLC NJ now owns 1,196,274 shares of the company’s stock valued at $21,342,000 after purchasing an additional 87,747 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.
K12 Inc (NYSE LRN) traded down $0.13 during trading on Friday, reaching $16.01. The company had a trading volume of 201,800 shares, compared to its average volume of 197,512. K12 Inc has a fifty-two week low of $15.07 and a fifty-two week high of $21.18. The company has a current ratio of 3.57, a quick ratio of 3.43 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $667.11, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 2.11 and a beta of -0.27.
K12 (NYSE:LRN) last issued its earnings results on Thursday, October 26th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.15. K12 had a net margin of 0.70% and a return on equity of 4.16%. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $235.15 million. During the same quarter in the previous year, the firm posted ($0.36) EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. equities analysts anticipate that K12 Inc will post 0.51 earnings per share for the current year.
In other K12 news, CFO James Jeaho Rhyu sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00. Following the sale, the chief financial officer now owns 224,591 shares of the company’s stock, valued at approximately $4,042,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 30,000 shares of company stock worth $540,000 in the last three months. Insiders own 18.34% of the company’s stock.
Several equities analysts recently commented on LRN shares. BMO Capital Markets reiterated a “buy” rating and issued a $21.00 price objective on shares of K12 in a research note on Wednesday, October 25th. Zacks Investment Research downgraded K12 from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, TheStreet downgraded K12 from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th.
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K12 Company Profile
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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