In recent transactions involving Legacy Education Inc. (NASDAQ:LGCY), Robert deRose and Susan deRose, acting as co-trustees of the Robert D. deRose & Susan deRose Family Trust, acquired 2,000 shares of common stock. The shares were purchased at a price of $9.10 each, amounting to a total investment of $18,200. Following this transaction, the trust now holds 1,089,974 shares indirectly, reflecting their continued substantial stake in the company. The deRoses are recognized as ten percent owners of Legacy Education Inc., which currently maintains a market capitalization of approximately $103 million. InvestingPro subscribers can access 12 additional investment tips and comprehensive financial metrics to better evaluate this insider purchase.
In other recent news, Legacy Education Inc. has announced major developments. The company has entered an agreement to acquire Contra Costa Medical (TASE:PMCN) Career College, a Northern California-based institution, for $8 million. The acquisition, contingent upon customary closing conditions and regulatory approvals, will expand Legacy Education’s campus presence in California and add programs like surgical technology and sterile processing to its portfolio.
Legacy Education has also announced the pricing of its initial public offering (IPO) at $4 per share, intending to offer 2.5 million shares. This move is led by Northland Securities, Inc. and Ladenburg Thalmann, and aims to raise $10 million before underwriting discounts and offering expenses. The IPO includes a 30-day option for underwriters to purchase up to an additional 375,000 shares to cover over-allotments.
In terms of analyst coverage, Northland has initiated coverage of Legacy Reserves with an Outperform rating, suggesting a positive perspective on the company's future performance. Ladenburg Thalmann has also assigned a new Buy rating to Legacy Reserves, setting a price target at $8.20. These ratings come as Legacy Reserves continues to diversify its educational offerings and expand its student base through strategic acquisitions.
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