Polar Asset Management Partners Inc. Makes New Investment in Legacy Education Inc. $LGCY

Key Points

• Polar Asset Management Partners acquired 255,677 shares of Legacy Education in the second quarter, worth approximately $3.0 million, giving it a 2.02% stake.
• Other institutional investors also increased or initiated positions, including Bard Associates, Sei Investments, Ancora Advisors, Renaissance Technologies, and BlackRock.
• Legacy Education shares opened at $10.62, below the analyst consensus target of $14.95. Analysts maintain a consensus “Buy” rating, with a target range including $14.50 and $15.40.

Polar Asset Management Partners Inc. acquired a new stake in shares of Legacy Education Inc. (NYSEAMERICAN:LGCY - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 255,677 shares of the company's stock, valued at approximately $3,007,000. Polar Asset Management Partners Inc. owned about 2.02% of Legacy Education as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bard Associates Inc. purchased a new stake in shares of Legacy Education in the second quarter worth about $5,225,000. Sei Investments Co. raised its position in Legacy Education by 260.9% during the first quarter. Sei Investments Co. now owns 260,004 shares of the company's stock valued at $3,255,000 after acquiring an additional 187,964 shares in the last quarter. Ancora Advisors LLC lifted its holdings in Legacy Education by 17.6% in the second quarter. Ancora Advisors LLC now owns 100,225 shares of the company's stock valued at $1,179,000 after acquiring an additional 15,000 shares during the period. Renaissance Technologies LLC boosted its position in Legacy Education by 87.6% in the 1st quarter. Renaissance Technologies LLC now owns 72,000 shares of the company's stock worth $901,000 after purchasing an additional 33,628 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in shares of Legacy Education during the 2nd quarter worth approximately $600,000.

Legacy Education Price Performance

Shares of LGCY stock opened at $10.62 on Wednesday. Legacy Education Inc. has a 1-year low of $7.94 and a 1-year high of $14.70. The company has a market cap of $134.34 million, a price-to-earnings ratio of 17.13 and a beta of 1.13. The stock has a 50 day simple moving average of $11.44 and a 200-day simple moving average of $11.96.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LGCY shares. LADENBURG THALM/SH SH boosted their target price on shares of Legacy Education from $14.60 to $15.40 and gave the company a "buy" rating in a research note on Friday, May 15th. Northland Securities set a $14.50 price target on shares of Legacy Education in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $14.95.

Legacy Education Profile

The Company owns and operates the following career institutions that focus on real-life training by utilizing educational practices in different job markets: High Desert Medical College (“HDMC”), Central Coast College (“CCC”), and Integrity College of Health (“Integrity”). HDMC has three campuses located in Lancaster, California, Bakersfield, California and Temecula, California. HDMC offers the following certificate or degree programs: ultrasound technician (“UT”), vocational nursing (“VN”), VN Associate of Applied Science, Associate Degree of Nursing, nursing assistant, Magnetic Resonance Imaging (“MRI”) Associate of Applied Science, cardiac sonography, pharmacy technician, dental assisting, clinical medical assisting and medical administrative assisting programs (including medical billing and coding programs), veterinary assistant, UT Associate of Applied Science degree, phlebotomy technician and nursing assistant avocational courses, and a number of continuing education programs.

Want to see what other hedge funds are holding LGCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Legacy Education Inc. (NYSEAMERICAN:LGCY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source