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STRA: Hitching Company Hopes to the Most Commoditized Segments of Higher Education; Consensus Estimates Appear Way Too...

February 27th, 2026

“I don't see anything that gives me alarm around any sharper declines in U.S. Higher Education enrollment. And I'm confident that in time, it's going to normalize to...

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ATGE/LOPE/PRDO/STRA: Higher Education Crisis? It's Not Just AI - Introducing LOPE as a Short Idea

January 23rd, 2026

In our 25+ years following the for-profit education industry, there has never been a time when the overall level of angst was this high.  Ongoing concerns about return on educational investment and student debt levels...

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STRA: Three Critical Observations from the Earnings Report of a Secularly Challenged For-Profit Education Company...

February 23rd, 2023

“We had probably the only thing that was a little bit of a surprise is we had a little bit higher bad debt than we expected. That's typical. Now with the benefit of hindsight, when we have...

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STRA: Why Is Management Lying About Lead Trends? Maybe It’s to Distract from Awful Earnings; Lowering Price Objective...

July 27th, 2022

“As I said a moment ago, we've seen a significant inflection in demand in our U.S. Higher Education segment. Inquiry volume is up more than 20% from the prior year. And within Strayer...

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STRA: The Writing Is on the Wall as Strayer Faces Its “Minsky Moment”; Lowering Price Objective to $56

July 30th, 2020

“ Strayer's leading indicators have remained relatively stable and strong for the past 8 weeks, essentially staying well above last year's targets on a quarter-to-date basis. What portion of this...

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STRA: This Is Not Your Uncle’s Higher Ed Market; Secular Headwinds and Now a Demand Shock, Time to Sell with a $63...

March 31st, 2020

“Given that more than 95% of our students are already taking all of their classes online and given that we have the capability to operate our company with our entire workforce working remotely,...

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Current Ideas

LOPE

SELL/SHORT

$106

TREX

SHORT

$18

Z

LONG

$126

STC

SHORT

$40

FAF

SHORT

$38

RKT

LONG

$25

CSGP

SHORT

$52

HUSQ.B

SELL

$50

AYI

SHORT

$50

TTC

LONG

$110

KNSL

SELL/SHORT

$230

FRPT

SELL/SHORT

$55

BYON

LONG

$70

EXPI

SELL/SHORT

$4

UFPI

SELL/SHORT

$45

PRDO

SELL/SHORT

$5

STRA

SELL/SHORT

$42

CWH

LONG

$75

CM

SELL/SHORT

$50

RY

SELL/SHORT

$50

ARC

LONG

$5.50

BIG

SHORT

$28

WWE

LONG

$65

XOXO

LONG

$37

RLGY

PAIR TRADE

$10

RDFN

PAIR TRADE

$30

BCO

LONG

$35

ING.PA

SHORT

$35

TRUP

SELL/SHORT

$10

CTC

SHORT

$101

ATGE

SHORT

$15

HCG.TO

SHORT

$0

RON.TO

SHORT

$9

ESI

SHORT

$0

BGG

PAIR - LONG BGG/SHORT TTC

25%

NA.TO

SHORT

$22

ZU

SHORT

$15

TRLA

SHORT

$20

MCRS

SHORT

$31

APOL

SHORT

$35

OPEN

SHORT

$30

KNL

PAIR - LONG KNL/SHORT MLHR

25%

GCA

LONG

$8

IPSU

LONG

$20

MLHR

SHORT

$22

LOOP

PAIR - LONG CSGP/SHORT LOOP

40%

THQI

LONG

$35

WPO

SHORT

$275

COCO

SHORT

$0

HNI

SIG

RGR