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Career Education Corp. Message Board

  • betasplen1 betasplen1 Oct 4, 2012 8:01 AM Flag

    Bought back

    Looks like a predictable trading channel between here and 3.97 on no news and below average volume. But I think the next time it crosses $4 on over million shares, it will move towards cash value ($5.50). This month the show cause restriction should be lifted and we may see a small run towards earnings as expectations are so bad (-0.45/share non-GAAP) that they could surprise on the upside. But, where the heck is the buyback? It's 2 months since they said thay have $183MM set aside for buybacks. They could almost buy the whole company back with that kinda budget!

    Sentiment: Buy

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    • Beta i traded some myself selling 8800 & buying back 4k.only a small portion of my hold. Added near 10k of EDMC.

      I find a bit of a difference in the trading. though CECO volume is down it is stioo way higher than EDMC and the float is near twice that of CECO.

      Aside from the CECO & EDMC I am looking forward to the earnings season and Tax loss selling after that.

      I did well last year playing the so called January effect. That comes with picking some good plays in late Nov and into Dec.


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