Prudential Financial Inc. raised its position in shares of K12 Inc. (NYSE:LRN) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 541,175 shares of the company’s stock after buying an additional 9,330 shares during the period. Prudential Financial Inc. owned approximately 1.44% of K12 worth $6,759,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of K12 by 31.8% in the second quarter. Acadian Asset Management LLC now owns 1,353,085 shares of the company’s stock worth $16,899,000 after buying an additional 326,198 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of K12 during the second quarter worth about $2,624,000. Bank of New York Mellon Corp increased its position in shares of K12 by 98.1% in the second quarter. Bank of New York Mellon Corp now owns 414,467 shares of the company’s stock worth $5,177,000 after buying an additional 205,220 shares during the period. Panagora Asset Management Inc. increased its position in shares of K12 by 75.9% in the first quarter. Panagora Asset Management Inc. now owns 454,870 shares of the company’s stock worth $4,499,000 after buying an additional 196,258 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of K12 by 10.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,993,586 shares of the company’s stock worth $24,899,000 after buying an additional 190,797 shares during the period. Hedge funds and other institutional investors own 80.71% of the company’s stock.
Shares of K12 Inc. (NYSE:LRN) opened at 14.33 on Monday. The stock has a market cap of $538.08 million, a PE ratio of 62.30 and a beta of 0.58. K12 Inc. has a 12-month low of $7.11 and a 12-month high of $14.91. The firm has a 50 day moving average price of $13.04 and a 200 day moving average price of $12.01.
K12 (NYSE:LRN) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.04. K12 had a return on equity of 2.49% and a net margin of 1.04%. The firm earned $221.30 million during the quarter, compared to the consensus estimate of $210.13 million. During the same period in the previous year, the firm earned $0.18 EPS. The business’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts expect that K12 Inc. will post $0.43 EPS for the current year.
A number of brokerages have recently commented on LRN. TheStreet raised K12 from a “sell” rating to a “hold” rating in a research report on Friday, July 8th. Barrington Research reaffirmed a “market perform” rating on shares of K12 in a research report on Friday, July 15th. Finally, First Analysis raised K12 from an “equal weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research report on Wednesday, August 10th.
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 range of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.
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