K12 Inc (LRN) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of K12 Inc (NYSE:LRN) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

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 analysts have also recently commented on LRN. BidaskClub cut shares of K12 from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. TheStreet lowered shares of K12 from a b- rating to a c+ rating in a report on Thursday, August 17th. Finally, BMO Capital Markets restated a buy rating and issued a $21.00 price objective on shares of K12 in a report on Wednesday, October 25th.

Shares of K12 (NYSE:LRN) traded up 0.68% during midday trading on Tuesday, reaching $16.33. The company had a trading volume of 43,885 shares. The firm’s 50 day moving average price is $17.64 and its 200-day moving average price is $18.29. K12 has a 12 month low of $10.44 and a 12 month high of $21.18. The company has a market capitalization of $631.68 million, a P/E ratio of 1633.00 and a beta of -0.23.

K12 (NYSE:LRN) last released its quarterly earnings results on Thursday, October 26th. The company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.15. K12 had a net margin of 0.70% and a return on equity of 4.16%. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $235.15 million. During the same period in the prior year, the firm earned ($0.36) earnings per share. K12’s revenue was down .1% compared to the same quarter last year. Analysts anticipate that K12 will post $0.51 earnings per share for the current fiscal year.

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In related news, CFO James Jeaho Rhyu sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $18.00, for a total value of $180,000.00. Following the transaction, the chief financial officer now directly owns 203,408 shares in the company, valued at $3,661,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 60,000 shares of company stock worth $1,080,300 over the last 90 days. 18.34% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in K12 by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,996,609 shares of the company’s stock valued at $53,700,000 after buying an additional 227,364 shares during the period. Vanguard Group Inc. raised its holdings in K12 by 1.8% in the second quarter. Vanguard Group Inc. now owns 2,787,709 shares of the company’s stock worth $49,955,000 after purchasing an additional 50,164 shares during the period. Numeric Investors LLC raised its holdings in K12 by 18.4% in the second quarter. Numeric Investors LLC now owns 1,207,595 shares of the company’s stock worth $21,640,000 after purchasing an additional 187,800 shares during the period. Palisade Capital Management LLC NJ raised its holdings in K12 by 7.9% in the third quarter. Palisade Capital Management LLC NJ now owns 1,196,274 shares of the company’s stock worth $21,342,000 after purchasing an additional 87,747 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in K12 by 12.4% in the second quarter. JPMorgan Chase & Co. now owns 939,687 shares of the company’s stock worth $16,839,000 after purchasing an additional 103,927 shares during the period. Institutional investors and hedge funds own 79.06% of the company’s stock.

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 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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