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For-Profit EDU: Another Log on the Fire? The Pell Grant Party Might Be Over

June 20th, 2012

There is little doubt that the for-profit postsecondary education sector has been under siege for the past 2-3 years.  Most stocks in the space are trading at or near their 52-week lows and at valuations most investors and management teams in...

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APOL: Closing Out Our Short Idea with a 32% Gain (vs. S&P 500 +11.3%), Core Thesis Remains Intact

May 8th, 2012

On 12/15/11 we introduced APOL as a short idea (see “The Monster is Out of the Cage and APOL’s Secular Decline Begins in Earnest”).  Our thesis at that time was predicated on the following: Demographic trends were...

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For-Profit EDU: As Some Try to Celebrate “Less Worse” Metrics, Starts Deteriorate and a Fundamental Inflection...

April 24th, 2012

Today the 1Q12 earnings season in the for-profit postsecondary education sector kicks off in earnest.  Thus far, many of the 12 issues that we thought would matter most this year have weighed...

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Current Ideas

EXPI

SELL/SHORT

$4

HUSQ.B

SELL

$50

UFPI

SELL/SHORT

$45

TREX

SHORT

$18

PRDO

SELL/SHORT

$5

STRA

SELL/SHORT

$42

CWH

LONG

$75

OSTK

LONG

$128

CM

SELL/SHORT

$50

RY

SELL/SHORT

$50

ARC

LONG

$5.50

AYI

SHORT

$50

BIG

SHORT

$28

WWE

LONG

$65

XOXO

LONG

$37

RLGY

PAIR TRADE

$10

RDFN

PAIR TRADE

$30

BCO

LONG

$35

ING.PA

SHORT

$35

TRUP

SELL/SHORT

$10

CTC

SHORT

$101

ATGE

SHORT

$15

HCG.TO

SHORT

$0

RON.TO

SHORT

$9

ESI

SHORT

$0

BGG

PAIR - LONG BGG/SHORT TTC

25%

TTC

PAIR - LONG BGG/SHORT TTC

25%

Z

SHORT

$14.00

NA.TO

SHORT

$22

ZU

SHORT

$15

TRLA

SHORT

$20

MCRS

SHORT

$31

APOL

SHORT

$35

OPEN

SHORT

$30

KNL

PAIR - LONG KNL/SHORT MLHR

25%

CSGP

SHORT

$100

GCA

LONG

$8

IPSU

LONG

$20

MLHR

SHORT

$22

LOOP

PAIR - LONG CSGP/SHORT LOOP

40%

THQI

LONG

$35

WPO

SHORT

$275

COCO

SHORT

$0

HNI

SIG

RGR