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Corinthian Colleges Inc. Message Board

  • vvla2942 vvla2942 Sep 2, 2010 3:39 PM Flag

    Buy as the insiders are doing.

    Insiders are buying across the board and on the open market (not excersising options). The $200 mill buyback can actually buy buy back $100-$125 mill due to private school regulations. This represents 25% of float.
    If COCO is smart, they will take advantage of this buyback and the result will offset their decision to kill the ABT program which will reduce rev/profits by 10-15%. The school therefore would maintain earnings in 2011 of $2 and even in the worst case scenario $1.50-$2 in 2012..With the buyback, buyers jumping in and a short squeeze (25% shorted) a major move up.

    Nice bowl is forming with lower lows and higher highs finally. The P/E is at 3, under 1 book value, debt at 18%, and the company is generating $200 mill a year in free cash flow.

    12 month RSI and Williams R% at historical oversold and MACD oversold with reversal in progress.

    COCO is doing everything right to meet the government witch hunt head on. Expect $10 by Q1 2011 and $20 by the end of year.

    Simply the companies low key towards the buyback other than the $200 mill announcement (they are sitting on $200 mill cash) and their continued reference to shareholder value seems to lead to one conclusion. THEY are buying up shares while at $5. The bought Heald college (15% of rev) in Jan 2010 for $395 mill and now the entire company is worth only $400 million. It would be a total managerial failure not to buy back shares.

    Meanwhile write Tom Harkin, DEM from Iowa and thank him for forcing, through his for profit education bill, for COCO to pull their education program (ABT) initiated by the Republicans to help the lower echelons (uneducated) individuals of society get education for entry level jobs as mechanics and information technology. Now these individuals can go sell CRACK or commit crimes instead, good job Harkin, we can send them to your State where they can harvest potatoes. HAVE YOU heard trhat unemployment is at 10% and for those uneducated at 20% plus.

    Buy now as the baby has been thrown out with the bathwater. Fact is that over 100,000 students attend COCO's colleges, they employ almost 10,000 poeple, and place around 75% of their graduates. At some point Obama will wake up and see that attacking education is not a solution to unemployment.

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