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ESI: As EBITDA Generation Dwindles, The Cash Wind-down Begins in Earnest

April 21st, 2016

ESI shares traded higher after hours based on the company's long awaited 4Q15 operating results.  It appears some investors are emboldened by the earnings upside in 4Q15 despite continued weakness in student...

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ESI: Department of Education Letter Suggests Liquidity Woes Could Accelerate – The End Game Is Nigh

October 19th, 2015

In a letter released today, the Department of Education informed ESI that the company will be placed on a form of delayed disbursement of Title IV funds and become subject to even more stringent reporting requirements...

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ESI: Was That the Final Goodbye? We’ve Reached the Point of No Return – ESI Might Not Survive Beyond the Next 6-9...

July 30th, 2015

Following a conference call that sounded 50% like a deposition and 50% like an advertisement (it was 100% strange), we can’t help but wonder if this could be the last time we might here from ESI...

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ESI: A Grand Exercise in Greater Fool Theory as the March to Zero Continues

June 2nd, 2015

It’s as if the SEC never filed suit against ESI, the CEO, and the CFO….The 100%+ rally in shares of ESI over the past three trading days has been truly something to behold.  The stock has been acting like the typical villain in a horror...

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ESI: The ZERO Scenario Is Finally Here and the For-Profit Education Space Might Never Be the Same

May 12th, 2015

“You shouldn’t talk to that guy, he’s a liar”You might be thinking that’s a quote from someone talking about Kevin Modany, but in fact this is a quote FROM Kevin Modany which was said to a reporter when he was...

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Current Ideas

EXPI

SELL/SHORT

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HUSQ.B

SELL

$50

UFPI

SELL/SHORT

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TREX

SHORT

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PRDO

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$5

STRA

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CWH

LONG

$75

OSTK

LONG

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CM

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RY

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ARC

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AYI

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BIG

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WWE

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XOXO

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RLGY

PAIR TRADE

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RDFN

PAIR TRADE

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BCO

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ING.PA

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TRUP

SELL/SHORT

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CTC

SHORT

$101

ATGE

SHORT

$15

HCG.TO

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RON.TO

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ESI

SHORT

$0

BGG

PAIR - LONG BGG/SHORT TTC

25%

TTC

PAIR - LONG BGG/SHORT TTC

25%

Z

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NA.TO

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ZU

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TRLA

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MCRS

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APOL

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OPEN

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$30

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PAIR - LONG KNL/SHORT MLHR

25%

CSGP

SHORT

$100

GCA

LONG

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IPSU

LONG

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MLHR

SHORT

$22

LOOP

PAIR - LONG CSGP/SHORT LOOP

40%

THQI

LONG

$35

WPO

SHORT

$275

COCO

SHORT

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HNI

SIG

RGR