Eaton Vance Management Holds Holdings in K12 Inc (LRN)
Eaton Vance Management held its position in shares of K12 Inc (NYSE:LRN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,000 shares of the company’s stock at the close of the second quarter. Eaton Vance Management’s holdings in K12 were worth $358,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in K12 by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,769,245 shares of the company’s stock valued at $53,030,000 after purchasing an additional 300,885 shares during the period. Vanguard Group Inc. boosted its holdings in K12 by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 2,737,545 shares of the company’s stock valued at $52,423,000 after purchasing an additional 175,099 shares during the period. Palisade Capital Management LLC NJ boosted its holdings in K12 by 2.5% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 1,108,527 shares of the company’s stock valued at $19,865,000 after purchasing an additional 26,700 shares during the period. JPMorgan Chase & Co. boosted its holdings in K12 by 12.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 939,687 shares of the company’s stock valued at $16,839,000 after purchasing an additional 103,927 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in K12 by 34.5% in the 1st quarter. AQR Capital Management LLC now owns 653,096 shares of the company’s stock valued at $12,507,000 after purchasing an additional 167,442 shares during the period. 79.51% of the stock is owned by institutional investors.
Several research analysts have commented on LRN shares. Zacks Investment Research raised shares of K12 from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday, August 10th. TheStreet downgraded shares of K12 from a “b-” rating to a “c+” rating in a report on Thursday, August 17th. Finally, BidaskClub downgraded shares of K12 from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $18.67.
In related news, CFO James Jeaho Rhyu sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00. Following the completion of the transaction, the chief financial officer now owns 255,624 shares in the company, valued at $4,601,232. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $1,080,850. 18.34% of the stock is owned by company insiders.
Shares of K12 Inc (NYSE:LRN) opened at 17.99 on Thursday. The company has a market capitalization of $695.89 million, a P/E ratio of 1799.00 and a beta of -0.24. The stock’s 50 day moving average is $17.58 and its 200-day moving average is $18.50. K12 Inc has a 12-month low of $10.17 and a 12-month high of $21.18.
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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