In August of 2010, KNOT introduced daily deal offerings on its weddingchannel.com site in 7 markets. Generally speaking the KNOT’s Daily Deals offering includes products and services related to the preparation for (dance lessons,...
READ MORE >As IPSU muddles along all too close to its 52-week lows, we thought it might be interesting to consider the following: US Refined/raw sugar spreads are close to record levels. List bulk industrial refined sugar prices through...
READ MORE >At 12PM on the third Friday of every month for the past 5-months we have been gathering data from Google on essential keyword terms that are likely targeted by both higher education institutions and...
READ MORE >Approximately 3-months ago we introduced a pair trade – Long KNL/Short MLHR. Thus far the trade has returned approximately 15% compared to a 2% gain for the S&P 500. In our original report, we established the following thesis for our long...
READ MORE >Approximately 2-weeks ago, we introduced OPEN as a short idea. You can read our original 40-page report by clicking here. The principal elements of our short thesis are as follows: 1. OPEN’s...
READ MORE >As long time followers of PAA Research know, we have been recommending the shares of THQI for quite some time now. Over the past three years, THQI has transformed itself from a company almost entirely focused on the publication of video games based on key licenses in...
READ MORE >From what we can gather, few investors if any have paid close attention to the progress of the various securities class action suits filed against almost every one of the publicly traded for-profit postsecondary education companies. We are...
READ MORE >THQI shares have declined 9.7% compared to a 1.3% gain for the S&P 500 since the company reported 3Q11 results and lowered its 4Q11 guidance. We were as perplexed as everyone else about the company’s decision to lower 4Q11 guidance a few weeks prior to what could...
READ MORE >Let’s get this out of the way early on – we are firm believers in the concept that valuation is not a short thesis, or more simply stated valuation is not a thesis. Ask any hedge fund manager who has relied on...
READ MORE >Yesterday afternoon, the California Student Aid Commission voted unanimously to support a drastic reduction of Cal Grant awards to for-profit education institutions in the event that cuts to the program are needed to help solve...
READ MORE >Approximately 18-months ago, we scribed a letter to Warren Buffet, Chairman and CEO of Berkshire Hathaway about his sizeable ownership stake in the Washington Post Company. It might have been an audacious endeavor on our part...
READ MORE >After slogging through three brutal years of weak demand for non-residential construction services, it appears that ARC might finally start to benefit from a recovery in project activity in 2011. Suddenly signs of life in the commercial real...
READ MORE >Call us crazy, but we have been eagerly anticipating the release of ESI’s 10-K filing for several weeks now. The company finally released its 2010 10-K filing on Friday, 2/18/11 after the market close. We have to admit, we are somewhat disappointed. On...
READ MORE >TTC reported 1Q11 results today that were well above consensus expectations. You can read the full release here. Despite the large upside delivered for 1Q11, the upward revision to FY11 guidance, and communication of a FY14 operating...
READ MORE >We wanted to provide you with an update on the performance of our SMid Cap portfolio, which we introduced on 9/3/09. You can read more about the parameters for the portfolio, our approach to risk management, and return objectives of the PAA Research SMid Cap...
READ MORE >KNOT reported 4Q10 results that were more or less inline with our expectations and above consensus estimates. The company’s 4Q10 results further validated our thesis that KNOT reached a critical inflection point in 2H10 and is poised to generate accelerated revenue...
READ MORE >KNOT will report 4Q10 earnings results after the market close on Thursday, February 10th. We expect the company’s 4Q10 results will further validate our thesis that KNOT reached a critical growth inflection point in the second...
READ MORE >Approximately 12-months ago in a report entitled "When the Castle Is Under Siege It Helps To Have a Wide Moat: Long CSGP/Short LOOP" we introduced a pair trade idea: long CSGP/short LOOP. Our thesis at that time was as follows: CSGP (CSGP 42.3 ↑0.74%) has...
READ MORE >IPSU reported 1Q11 results this morning that can be best characterized as more of the same. The company reported an operating loss as a result of ongoing production issues at its Port Wentworth refinery, which were further exacerbated...
READ MORE >Approximately 6-weeks ago we introduced a pair trade – Long KNL/Short MLHR. In our report, we established the following thesis for our long KNL/short MLHR pair trade: Order trends have improved materially for...
READ MORE >The Department of Education released “trial” 3-year cohort default rate data this morning on an national level and institution by institution basis. Before we get into a discussion of the national level data and some of our findings on a school...
READ MORE >We first introduced BCO as a long idea in June of 2009. Admittedly, this has not been one of our best stock ideas. The stock has returned a measly 4% while the S&P 500 has surged 39% higher over the same time frame – not exactly the...
READ MORE >THQI reported 3Q11 earnings results after the close yesterday. You can read the full earnings release here. The headlines are that the company beat consensus expectations for the December quarter, but...
READ MORE >THQI will report 3Q11 earnings after the close on Wednesday February 2nd. Since the release of THQI’s drawing based peripheral for the Wii on November 14th (uDraw), the stock has rallied 41%. ...
READ MORE >COCO reported 2Q11 earnings results this morning and will host a conference call at 12PM EST today. You can read the company’s earnings release here. The stock is trading higher based on four...
READ MORE >On Tuesday, February 1st, COCO will report 2Q11 earnings and potentially provide initial guidance for 3Q11 results. At the start of 2011, COCO finds itself at a critical impasse. The company faces ENORMOUS...
READ MORE >BGG reported 2Q11 results that we would characterize as far less impressive as the headline numbers would suggest. In general, it appears that relatively strong demand in Australia and Asia combined with slightly earlier...
READ MORE >We have been recommending a pair trade: long BGG/short TTC for approximately three months. Thus far the trade has not been a winner, generating a modest loss (-0.3%) compared to a whopping 21.3% gain for the S&P 500. As a reminder, the...
READ MORE >Today the US Department of Education released data on the number of Free Applications for Federal Student Aid (FAFSA) submitted during 4Q10-11 (calendar fourth quarter of 2010). In our view the FAFSA data provided by...
READ MORE >ESI report 4Q10 earnings and the results of their winter term enrollment intake. You can read the full earnings release here. We would characterize the company’s earnings results and winter...
READ MORE >SELL
$50
LONG
$110
SELL/SHORT
$230
SELL/SHORT
$55
LONG
$70
SELL/SHORT
$4
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
$20
SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0