K12 Inc (NYSE:LRN) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of K12 Inc (NYSE:LRN) from a buy rating to a hold rating in a report released on Thursday, July 20th.

According to Zacks, “K12 Inc., a technology-based education company, is a leading national provider of proprietary curriculum and educational services created for online delivery to students in kindergarten through 12th grade, or K-12. Its mission is to maximize a child’s potential by providing access to an engaging and effective education, regardless of geographic location or socio-economic background. “

Several other equities research analysts have also recently weighed in on LRN. BMO Capital Markets reiterated a buy rating and set a $22.00 price objective on shares of K12 in a research report on Wednesday, April 12th. TheStreet raised shares of K12 from a c+ rating to a b- rating in a research note on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $17.75.

Shares of K12 (NYSE LRN) opened at 16.82 on Thursday. The company has a 50 day moving average of $17.94 and a 200-day moving average of $18.66. K12 has a one year low of $10.17 and a one year high of $21.18. The firm has a market cap of $643.37 million, a price-to-earnings ratio of 111.39 and a beta of -0.20.

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In other K12 news, EVP Allison Cleveland sold 5,600 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $18.66, for a total transaction of $104,496.00. Following the transaction, the executive vice president now directly owns 99,916 shares of the company’s stock, valued at approximately $1,864,432.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO James Jeaho Rhyu sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $18.79, for a total transaction of $93,950.00. Following the completion of the transaction, the chief financial officer now owns 280,624 shares in the company, valued at approximately $5,272,924.96. The disclosure for this sale can be found here. Insiders sold 45,600 shares of company stock valued at $833,746 in the last quarter. Corporate insiders own 18.34% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in K12 by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,769,245 shares of the company’s stock valued at $53,030,000 after buying an additional 300,885 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in K12 during the first quarter valued at about $4,129,000. Alliancebernstein L.P. raised its stake in K12 by 514.1% in the first quarter. Alliancebernstein L.P. now owns 233,014 shares of the company’s stock valued at $4,462,000 after buying an additional 195,070 shares in the last quarter. Vanguard Group Inc. raised its stake in K12 by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,737,545 shares of the company’s stock valued at $52,423,000 after buying an additional 175,099 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of K12 by 34.5% in the first quarter. AQR Capital Management LLC now owns 653,096 shares of the company’s stock worth $12,507,000 after buying an additional 167,442 shares during the period. 79.21% of the stock is owned by institutional investors.

About K12

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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