Legacy Education (NYSEAMERICAN:LGCY) Releases Earnings Results

Legacy Education (NYSEAMERICAN:LGCY) announced its quarterly earnings data on Thursday. The company reported $0.22 earnings per share for the quarter, FiscalAI reports. The business had revenue of $21.37 million during the quarter. Legacy Education had a return on equity of 19.46% and a net margin of 11.02%.

Here are the key takeaways from Legacy Education’s conference call:

• Revenue rose 15% year over year to $21.4 million in Q3, while adjusted EBITDA increased to $4.4 million and net income climbed to $3.0 million, showing the company is still growing profitably.
• Legacy highlighted improving operating leverage, with educational services expense falling to 51.7% of revenue from 54.4% a year ago, which management said reflects a scaling business model.
• The company said student demand remains strong, supported by 1,078 new student starts in the quarter and a 9.4% increase in student population to 3,550.
• Legacy continued to expand capacity and programs, adding surgical tech and sterile processing cohorts, enlarging Lancaster and Temecula facilities, and preparing new offerings including MRI and cardiac sonography.
• The balance sheet remained solid with $21.7 million in cash, $30.9 million of working capital, and only $600,000 of debt, giving the company flexibility to fund branch expansion, selective acquisitions, and other growth initiatives.

Legacy Education Trading Up 2.5%

NYSEAMERICAN LGCY traded up $0.30 during trading on Thursday, hitting $12.50. 100,811 shares of the company’s stock were exchanged, compared to its average volume of 64,463. The company has a market cap of $157.63 million, a PE ratio of 20.49 and a beta of 1.24. Legacy Education has a fifty-two week low of $7.32 and a fifty-two week high of $14.70. The stock’s 50 day moving average price is $12.77 and its two-hundred day moving average price is $11.16.

Hedge Funds Weigh In On Legacy Education

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Legacy Education by 68.9% in the first quarter. Dimensional Fund Advisors LP now owns 24,747 shares of the company’s stock valued at $310,000 after buying an additional 10,096 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Legacy Education by 87.6% during the first quarter. Renaissance Technologies LLC now owns 72,000 shares of the company’s stock worth $901,000 after buying an additional 33,628 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Legacy Education by 260.9% in the 1st 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 during the last quarter.

Legacy Education Company 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.