Bank of America Corp DE Trims Position in K12 Inc (LRN)

Bank of America Corp DE cut its holdings in K12 Inc (NYSE:LRN) by 84.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,572 shares of the company’s stock after selling 35,547 shares during the period. Bank of America Corp DE’s holdings in K12 were worth $126,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LRN. Acrospire Investment Management LLC boosted its holdings in K12 by 639.9% in the first quarter. Acrospire Investment Management LLC now owns 6,541 shares of the company’s stock worth $125,000 after purchasing an additional 5,657 shares in the last quarter. 1st Global Advisors Inc. bought a new stake in K12 in the first quarter worth $223,000. UBS Asset Management Americas Inc. bought a new stake in K12 in the first quarter worth $255,000. Citadel Advisors LLC bought a new stake in K12 in the first quarter worth $262,000. Finally, Victory Capital Management Inc. bought a new stake in K12 in the first quarter worth $299,000. Hedge funds and other institutional investors own 79.51% of the company’s stock.

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K12 Inc (LRN) opened at 17.48 on Wednesday. The firm has a market cap of $676.16 million, a price-to-earnings ratio of 1748.00 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.

In related news, CFO James Jeaho Rhyu sold 10,000 shares of the stock in a transaction dated Tuesday, September 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 201,881 shares in the company, valued at $3,633,858. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 50,000 shares of company stock valued at $900,850. 18.34% of the stock is owned by company insiders.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of K12 from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Thursday, August 10th. TheStreet lowered shares of K12 from a “b-” rating to a “c+” rating in a research report on Thursday, August 17th. Finally, BidaskClub lowered shares of K12 from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.67.

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.

Institutional Ownership by Quarter for K12 (NYSE:LRN)

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