We have watched with faint amusement over the past 3-months as ATGE shares have come under pressure largely due to two short reports published by Safkhet Capital Research. The reports are well written, wonderfully illustrated (the AI use case...
READ MORE >“Looking at our segments, total enrollment at Chamberlain continued to show modest improvement during the quarter, supported by the success of campus-based BSN programs” Stephen Beard, President and CEO...
READ MORE >“And I'd also say, with the expansion of our nursing schools going forward, probably is somewhere around an incremental investment of $150 million in '23 compared to what we ran in '22. We didn't call...
READ MORE >Another quarter and another 20-25 minute earnings conference call where ATGE management attempted to blame COVID19 for all of their demand and operational woes. There is no doubt that COVID19 has created a significant headwind for demand for nursing...
READ MORE >ATGE management would like investors to believe that the company’s disastrous 2Q22 results and weak outlook for the remainder of the year are solely a function of the surge in COVID19 case counts over the past 3-4 months. There is no doubt that...
READ MORE >This morning ATGE announced that it has entered into a definitive agreement to sell its Financial Services division in two separate transactions for a combined purchase price of $1 billion. First, ACAMS the...
READ MORE >“Starting in the month of June, among our licensed registered nursing student body at Aspen University, working nurses were needed on the front lines for patient care and, frankly, showed clear signs of fatigue. This...
READ MORE >“The most common types of conduct that might make a borrower eligible for loan relief through borrower defense to repayment discharge are misrepresentations of the truth made by the school or its representatives...
READ MORE >“Despite the tremendous opportunity at the Company, we have serious concerns about the ability of the Board of Directors (the “Board”) and management team to realize the Company’s true potential, allocate capital appropriately, and...
READ MORE >“What I mentioned before was not so much decline in ACAMS, but our desire to see it grow a lot faster, given what we know are the opportunities…. So from our perspective, we're at an inflection point at ACAMS, growth has plateaued a...
READ MORE >“The increase in segment operating income is the result of strong Chamberlain enrollment trends and efforts to increase efficiency and reduce travel and discretionary spend, partially offset by...
READ MORE >We’re nearly four years into the Wardell regime at ATGE and there are only a few things that we can conclusively state about the current management team at the company: They appear...
READ MORE >“Overall, we're pleased with our top line growth in the quarter, and we believe our stepped-up investments in marketing, along with increased corporate cost discipline position us well to...
READ MORE >Question – Jeffrey Marc Silber: Okay. And then sorry, just one more question on the quarter. Just looking at some of the details, if I look at the home office expense, even...
READ MORE >To put it simply, ATGE trades like a company that generates mid-to-high single digit YOY organic revenue growth consistently. Every year for the past seven years, ATGE management (both prior and current) has dangled a mid-single...
READ MORE >“The first slide talks about demand for nursing, and I know this is a frequent question that many of you have. And the data are conflicting. There's a lot of disagreement in the marketplace about whether there is or will be a shortage,...
READ MORE >We’re going to keep things brief here. The current ATGE management team has always favored style over substance, particularly in their shareholder communications. Management has spent an inordinate amount of time crafting a growth narrative around the company when in reality...
READ MORE >For the past 18-24 months ATGE bulls have argued that the removal of DVU from the company’s portfolio of education assets would result in meaningful share price appreciation. For many an ATGE investor, DVU’s severe revenue declines and modest...
READ MORE >In a move that has been telegraphed for some time but occurred sooner than expected, ATGE announced that it has reached an agreement with Cogswell Education to “sell” DVU. The headline purchase price is $1,...
READ MORE >“Games people play, You take it or leave it Things that they say, Just don't make it right If I'm tellin' you the truth right now, do you believe it Games people play in...
READ MORE >This morning STRA and CPLA announced their intention to “merge” in an all-stock deal. CPLA shareholders will receive 0.875 shares of STRA stock for each share they own. Although this transaction has been...
READ MORE >“Our transformation is well underway, as reflected in our heightened focus on our student-centric culture, our new corporate name and our improving financial performance.” Lisa Wardell, CEO Adtalem Global Education, Inc. 8/17/17 Well at least...
READ MORE >“This is a notable earnings call for me as it marks 1 year since I assumed the CEO position in May of 2016. We have accomplished a great deal in a short period of time, and we're well...
READ MORE >“Let's begin What where why or when Will all be explained Why destruction is a game See I'm not insane In fact I'm kind of rational….” Boogie Down...
READ MORE >“All I do is separate the game from the truth” Wallace, Christopher. “One More Chance”. Ready To Die. Bad Boy, 1994. We think the quote above perfectly...
READ MORE >“I've got depth of perception in my text y'all I get props at my mention 'cause I vex y'all So what'cha...
READ MORE >Over the years, there are few things that we have looked forward to less than listening to DV earnings conference calls. For the most part, the conference calls and presentations during the...
READ MORE >For once, it appears that DV management might has gotten something right in their “fearless” forecasting – the FTC investigation from our perspective has come to its “logical close”. We...
READ MORE >At DeVry Brasil, executing our game plan continues to be about adding valued acquisitions, launching new programs, marketing effectiveness and achieving operating leverage. By the way, we expect FX to moderate over the planning...
READ MORE >Recently in one of our research notes about Zillow we wrote the following:“Investors love anecdotes about companies; they represent the “broth” in the mosaic theory “soup” we create on any...
READ MORE >SELL/SHORT
$230
SELL/SHORT
$55
LONG
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SELL/SHORT
$4
SELL
$50
SELL/SHORT
$45
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$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
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SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0