K12 Inc. (LRN) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its stake in shares of K12 Inc. (NYSE:LRN) by 0.5% in the third quarter, HoldingsChannel.com reports. The firm owned 643,477 shares of the company’s stock after selling 3,229 shares during the quarter. Royce & Associates LP’s holdings in K12 were worth $11,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in LRN. Bessemer Group Inc. boosted its position in shares of K12 by 5.4% in the third quarter. Bessemer Group Inc. now owns 52,600 shares of the company’s stock valued at $931,000 after acquiring an additional 2,700 shares during the period. Wells Fargo & Company MN boosted its position in shares of K12 by 3.6% in the third quarter. Wells Fargo & Company MN now owns 78,827 shares of the company’s stock valued at $1,395,000 after acquiring an additional 2,724 shares during the period. Janus Henderson Group PLC boosted its position in shares of K12 by 0.3% in the second quarter. Janus Henderson Group PLC now owns 1,220,693 shares of the company’s stock valued at $19,983,000 after acquiring an additional 3,180 shares during the period. United Services Automobile Association boosted its position in shares of K12 by 3.3% in the third quarter. United Services Automobile Association now owns 102,737 shares of the company’s stock valued at $1,818,000 after acquiring an additional 3,275 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of K12 by 17.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 33,004 shares of the company’s stock valued at $540,000 after acquiring an additional 4,874 shares during the period. 81.84% of the stock is owned by hedge funds and other institutional investors.

LRN has been the subject of a number of recent research reports. ValuEngine raised shares of K12 from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Barrington Research reissued an “outperform” rating and issued a $25.00 target price (up previously from $22.00) on shares of K12 in a research report on Wednesday, October 24th. Zacks Investment Research raised shares of K12 from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research report on Saturday, October 27th. Finally, BMO Capital Markets boosted their target price on shares of K12 from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $23.33.

In related news, Chairman Nathaniel A. Davis sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $20.71, for a total value of $1,242,600.00. Following the completion of the transaction, the chairman now owns 414,778 shares of the company’s stock, valued at $8,590,052.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin Chavous sold 7,000 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $21.99, for a total value of $153,930.00. Following the completion of the transaction, the insider now directly owns 91,440 shares of the company’s stock, valued at approximately $2,010,765.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,570 shares of company stock valued at $1,424,790. 7.00% of the stock is owned by insiders.

LRN stock opened at $23.86 on Thursday. The stock has a market capitalization of $959.02 million, a P/E ratio of 35.09, a P/E/G ratio of 2.09 and a beta of -0.10. K12 Inc. has a 52 week low of $12.72 and a 52 week high of $24.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.06 and a quick ratio of 2.95.

K12 (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.11. The business had revenue of $251.30 million during the quarter, compared to the consensus estimate of $226.82 million. K12 had a return on equity of 4.67% and a net margin of 2.91%. K12’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. On average, sell-side analysts predict that K12 Inc. will post 0.76 earnings per share for the current fiscal year.

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About K12

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.

See Also: Leveraged Buyout (LBO)

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Institutional Ownership by Quarter for K12 (NYSE:LRN)

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