2024-03-29 06:50:58 ET
Summary
- American Public Education stock has tripled in the last six months but is still down over 50% in the last five years.
- The recent disastrous acquisition of Rasmussen University is turning around, and its goodwill has now been written off.
- The suffering might be over. Costs are cut, and revenues are growing. Trading at 6x depressed FCF, APEI might be a buy.
While the stock price of American Public Education, Inc. ( APEI ) has tripled in the last six months, it is still down more than 50% over the last 5 years. Is the recent surge the beginning of a successful turnaround? Or rather, one additional episode in the long-lasting march of destroying shareholders' value at a rate of negative 7% a year? Let's find out....
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American Public Education: Growth Coming Back, Likely A Recovery Play