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Career Education Corp. Message Board

  • golfer18us golfer18us Mar 8, 2013 2:01 PM Flag

    Share repurchase

    One has to wonder what the board was looking at when they executed recent share repos. In 2011 and 2012, they spent $206 million acquiring 14.2 million shares for an average price of....$14.51. Talk about a really bad investment. Are their internal models that poor that they couldn't contemplate the issues in 2012? Here's the good news....they've got $183 million left under the original authorization for the plan and the Market Cap of the company is around that so ...gee...they could buy back all the shares (sarcasm inserted). If they thought the company was a deal at $9.29/share (that's what they spent in 2012), it's a screaming deal at current levels.

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