JPMorgan Chase & Co. Purchases 390,417 Shares of K12 Inc. (LRN)

JPMorgan Chase & Co. boosted its position in K12 Inc. (NYSE:LRN) by 56.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,088,027 shares of the company’s stock after purchasing an additional 390,417 shares during the quarter. JPMorgan Chase & Co.’s holdings in K12 were worth $19,257,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Trexquant Investment LP bought a new stake in shares of K12 during the 3rd quarter worth about $180,000. First Quadrant L P CA bought a new stake in shares of K12 during the 3rd quarter worth about $287,000. GSA Capital Partners LLP bought a new stake in shares of K12 during the 3rd quarter worth about $435,000. Engineers Gate Manager LP raised its position in shares of K12 by 65.8% during the 3rd quarter. Engineers Gate Manager LP now owns 26,413 shares of the company’s stock worth $468,000 after buying an additional 10,484 shares in the last quarter. Finally, Stone Ridge Asset Management LLC raised its position in shares of K12 by 18.1% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 44,223 shares of the company’s stock worth $783,000 after buying an additional 6,780 shares in the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.

K12 stock opened at $31.18 on Monday. The company has a market capitalization of $1.25 billion, a PE ratio of 45.85, a PEG ratio of 2.65 and a beta of 0.16. The company has a current ratio of 3.50, a quick ratio of 3.38 and a debt-to-equity ratio of 0.01. K12 Inc. has a fifty-two week low of $12.72 and a fifty-two week high of $32.38.

K12 (NYSE:LRN) last released its earnings results on Tuesday, January 22nd. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $254.90 million for the quarter, compared to the consensus estimate of $250.80 million. K12 had a net margin of 3.87% and a return on equity of 6.40%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, equities research analysts predict that K12 Inc. will post 0.79 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of K12 from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 26th. ValuEngine upgraded shares of K12 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. Sidoti assumed coverage on shares of K12 in a report on Wednesday, January 2nd. They issued a “neutral” rating and a $29.00 target price on the stock. BMO Capital Markets lifted their target price on shares of K12 from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 24th. Finally, Barrington Research reissued an “outperform” rating and issued a $25.00 target price (up from $22.00) on shares of K12 in a research report on Wednesday, October 24th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $28.25.

In other K12 news, Chairman Nathaniel A. Davis sold 100,000 shares of K12 stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $29.06, for a total value of $2,906,000.00. Following the completion of the sale, the chairman now directly owns 214,778 shares in the company, valued at $6,241,448.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nathaniel A. Davis sold 4,300 shares of K12 stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $26.00, for a total transaction of $111,800.00. Following the completion of the sale, the chief executive officer now owns 214,778 shares of the company’s stock, valued at $5,584,228. The disclosure for this sale can be found here. Over the last three months, insiders sold 204,300 shares of company stock worth $5,422,800. 7.00% of the stock is currently owned by insiders.

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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.

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Institutional Ownership by Quarter for K12 (NYSE:LRN)

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