Laureate Education Inc. (LAUR) Sees Significant Drop in Short Interest
Laureate Education Inc. (NASDAQ:LAUR) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,648,980 shares, a decline of 25.4% from the August 15th total of 3,549,066 shares. Approximately 8.5% of the shares of the stock are short sold. Based on an average daily volume of 679,730 shares, the days-to-cover ratio is presently 3.9 days.
Several equities analysts have issued reports on LAUR shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $17.00 price objective on shares of Laureate Education in a research report on Tuesday, August 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $21.00 price objective (up previously from $20.00) on shares of Laureate Education in a research report on Friday, July 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.10.
In other Laureate Education news, CEO Richard J. Patro sold 16,383 shares of Laureate Education stock in a transaction on Monday, August 14th. The stock was sold at an average price of $15.21, for a total value of $249,185.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ricardo M. Berckemeyer sold 47,983 shares of Laureate Education stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $14.29, for a total value of $685,677.07. The disclosure for this sale can be found here. Insiders own 13.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in LAUR. Kohlberg Kravis Roberts & Co. L.P. bought a new position in shares of Laureate Education in the 1st quarter valued at $50,964,000. FMR LLC bought a new position in shares of Laureate Education in the 1st quarter valued at $49,947,000. Vanguard Group Inc. bought a new position in shares of Laureate Education in the 1st quarter valued at $35,401,000. TimesSquare Capital Management LLC bought a new position in shares of Laureate Education in the 1st quarter valued at $30,823,000. Finally, Franklin Resources Inc. lifted its stake in shares of Laureate Education by 171.6% in the 2nd quarter. Franklin Resources Inc. now owns 2,171,612 shares of the company’s stock valued at $38,068,000 after acquiring an additional 1,372,023 shares during the last quarter. Institutional investors own 20.81% of the company’s stock.
Shares of Laureate Education (LAUR) opened at 14.37 on Friday. Laureate Education has a 52-week low of $12.12 and a 52-week high of $15.20. The company has a market cap of $2.42 billion and a P/E ratio of 231.77. The stock’s 50 day moving average price is $14.72 and its 200-day moving average price is $13.85.
Laureate Education (NASDAQ:LAUR) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.25). The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.24 billion. Laureate Education’s revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that Laureate Education will post ($0.82) EPS for the current year.
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Laureate Education Company Profile
Laureate Education, Inc operates a network of degree-granting higher education institution. The Company operates in four segments: Latin America (LatAm); Europe; Asia, Middle East and Africa (AMEA), and Global Products and Services (GPS). The Company’s network includes approximately 70 institutions in over 25 countries on over 200 campuses, which the Company collectively refer to as the Laureate International Universities network.
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