Legacy Education (NYSEAMERICAN:LGCY) Stock Price Down 0.5% - Here's Why

Key Points

• Legacy Education shares fell 0.5% to $10.27 in mid-day trading, with volume down 66% from the average session. The stock has a $131.56 million market capitalization and trades below its 200-day moving average.
• Analyst sentiment weakened after Zacks Research downgraded the stock from “hold” to “strong sell.” Despite the downgrade, the average rating remains “Hold,” with a consensus price target of $14.95.
• Legacy Education reported quarterly earnings of $0.13 per share on $20.10 million in revenue, while several institutional investors—including Bard Associates and Polar Asset Management—recently initiated or increased positions.

Legacy Education Inc. (NYSEAMERICAN:LGCY - Get Free Report) traded down 0.5% during mid-day trading on Wednesday. The stock traded as low as $10.06 and last traded at $10.27. Approximately 25,077 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 72,701 shares. The stock had previously closed at $10.32.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Legacy Education from a "hold" rating to a "strong sell" rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.95.

Legacy Education Stock Down 0.5%

The company has a market capitalization of $131.56 million, a P/E ratio of 15.56 and a beta of 1.15. The firm's 50-day moving average price is $10.30 and its 200 day moving average price is $11.24.

Legacy Education (NYSEAMERICAN:LGCY - Get Free Report) last announced its quarterly earnings results on Thursday, September 24th. The company reported $0.13 earnings per share for the quarter. Legacy Education had a net margin of 11.42% and a return on equity of 19.04%. The business had revenue of $20.10 million for the quarter. As a group, equities research analysts expect that Legacy Education Inc. will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Punch & Associates Investment Management Inc. purchased a new position in shares of Legacy Education during the second quarter valued at approximately $1,176,000. Polar Asset Management Partners Inc. bought a new stake in Legacy Education during the second quarter worth $3,007,000. Ancora Advisors LLC raised its position in Legacy Education by 17.6% in the 2nd quarter. Ancora Advisors LLC now owns 100,225 shares of the company's stock valued at $1,179,000 after buying an additional 15,000 shares during the last quarter. Manatuck Hill Partners LLC purchased a new stake in Legacy Education in the 2nd quarter valued at $524,000. Finally, Bard Associates Inc. bought a new position in Legacy Education during the 2nd quarter valued at $5,225,000.

About Legacy Education

Legacy Education, Inc is a postsecondary education company that provides career-focused training through a network of vocational and professional schools. Its programs are designed to prepare students for employment in fields such as healthcare, business, technology and related occupational areas.

The company offers certificate and diploma programs, along with classroom-based and other educational formats. Its schools provide instruction, practical training and student-support services intended to help graduates meet the requirements of their chosen careers.

Legacy Education serves students primarily through campuses in the western United States, including locations in California and Nevada.

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