Mackay Shields LLC Invests $1.91 Million in K12 (LRN)

Mackay Shields LLC bought a new position in shares of K12 (NYSE:LRN) during the first quarter, HoldingsChannel reports. The fund bought 134,753 shares of the company’s stock, valued at approximately $1,911,000.

Several other large investors have also recently modified their holdings of LRN. BlackRock Inc. raised its position in shares of K12 by 6.3% during the fourth quarter. BlackRock Inc. now owns 2,573,649 shares of the company’s stock worth $40,921,000 after purchasing an additional 152,056 shares during the period. Renaissance Technologies LLC grew its holdings in K12 by 13.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,020,700 shares of the company’s stock worth $16,229,000 after buying an additional 123,600 shares in the last quarter. Thrivent Financial For Lutherans bought a new stake in K12 during the fourth quarter worth $1,817,000. Arrowstreet Capital Limited Partnership grew its holdings in K12 by 112.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,313 shares of the company’s stock worth $3,423,000 after buying an additional 114,193 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in K12 by 26.0% during the fourth quarter. Royce & Associates LP now owns 550,728 shares of the company’s stock worth $8,757,000 after buying an additional 113,617 shares in the last quarter. 82.28% of the stock is currently owned by institutional investors.

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Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded K12 from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Friday, April 27th. BMO Capital Markets decreased their price target on K12 from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 25th. Barrington Research reiterated a “buy” rating and set a $22.00 price target on shares of K12 in a report on Thursday, April 12th. Finally, ValuEngine downgraded K12 from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. K12 presently has an average rating of “Hold” and a consensus price target of $19.33.

Shares of K12 opened at $15.99 on Friday, Marketbeat Ratings reports. K12 has a 12-month low of $12.72 and a 12-month high of $19.92. The firm has a market cap of $659.99 million, a P/E ratio of 35.53, a P/E/G ratio of 1.78 and a beta of 0.01. The company has a quick ratio of 3.77, a current ratio of 3.92 and a debt-to-equity ratio of 0.02.

K12 (NYSE:LRN) last announced its quarterly earnings results on Tuesday, April 24th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). K12 had a return on equity of 3.75% and a net margin of 1.32%. The company had revenue of $232.90 million for the quarter, compared to the consensus estimate of $227.30 million. During the same quarter last year, the company posted $0.42 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. equities analysts anticipate that K12 will post 0.6 EPS for the current year.

In other K12 news, insider Kevin Chavous sold 3,491 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $15.20, for a total value of $53,063.20. Following the completion of the transaction, the insider now owns 60,424 shares in the company, valued at approximately $918,444.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.34% of the stock is owned by corporate insiders.

K12 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. It manages virtual and blended public schools.

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