Sawgrass Asset Management LLC Boosts Stake in K12 Inc. (LRN)

Sawgrass Asset Management LLC increased its position in K12 Inc. (NYSE:LRN) by 45.3% in the 1st quarter, Holdings Channel reports. The firm owned 18,600 shares of the company’s stock after buying an additional 5,800 shares during the period. Sawgrass Asset Management LLC’s holdings in K12 were worth $635,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of K12 in the 1st quarter worth approximately $278,000. IndexIQ Advisors LLC purchased a new stake in K12 in the 1st quarter valued at approximately $1,584,000. First Mercantile Trust Co. purchased a new stake in K12 in the 1st quarter valued at approximately $144,000. Robeco Institutional Asset Management B.V. purchased a new stake in K12 in the 1st quarter valued at approximately $883,000. Finally, Alps Advisors Inc. purchased a new stake in K12 in the 1st quarter valued at approximately $411,000. 84.11% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on LRN. Zacks Investment Research raised K12 from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research note on Friday, April 26th. Barrington Research reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $30.00) on shares of K12 in a research note on Friday, April 12th. Finally, ValuEngine raised K12 from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 29th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. K12 currently has a consensus rating of “Buy” and a consensus target price of $31.50.

LRN stock opened at $31.78 on Friday. K12 Inc. has a 1 year low of $15.72 and a 1 year high of $37.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.39 and a current ratio of 3.51. The company has a market capitalization of $1.28 billion, a P/E ratio of 46.74, a P/E/G ratio of 2.57 and a beta of 0.10.

K12 (NYSE:LRN) last posted its earnings results on Tuesday, April 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. K12 had a return on equity of 7.23% and a net margin of 4.33%. The firm had revenue of $253.25 million for the quarter, compared to analyst estimates of $252.49 million. During the same quarter in the prior year, the company earned $0.32 EPS. K12’s revenue was up 8.8% on a year-over-year basis. Analysts expect that K12 Inc. will post 0.84 earnings per share for the current year.

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K12 Company Profile

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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