Michael A. Plater, a director at Lincoln Educational Services Corp (NASDAQ:LINC), recently sold 10,471 shares of the company's common stock. The shares were sold on November 14, 2024, at a weighted average price of $15.41, resulting in a total transaction value of approximately $161,358. Following the sale, Plater retains ownership of 31,608 shares. The sale was reportedly made to address personal financial planning needs.
In other recent news, Rosenblatt Securities has adjusted its outlook on shares of Lincoln Educational Services, raising the target price to $20.00 from the previous $17.00, maintaining a Buy rating. This adjustment is a reflection of the company's strong performance, marked by a 21% year-over-year growth in new student enrollments. Lincoln Educational Services is capitalizing on the labor market's demand for skilled workers through the development of new campuses, expansion of existing programs, and a robust pipeline of potential students.
In their recent earnings call, Lincoln Tech reported a 67% increase in adjusted EBITDA and a 21% rise in student starts. The company also raised its financial guidance for 2024, projecting revenue between $430 million and $435 million. As part of their expansion plans, Lincoln Tech is developing new campuses in Nashville, Philadelphia, Houston, and Long Island.
Corporate partnerships with Hyundai (OTC:HYMTF), Tesla (NASDAQ:TSLA), and Container Maintenance Corporation are expected to enhance training programs and revenue. The company plans to divest the underperforming Euphoria Institute in Las Vegas to focus more on skilled trades and healthcare. These developments are part of Lincoln Tech's strategic focus on expansion and adaptation to market demands in the skilled trades education sector.
InvestingPro Insights
Lincoln Educational Services Corp (NASDAQ:LINC) has been experiencing significant momentum in the market, as evidenced by its strong performance metrics. According to InvestingPro data, LINC has shown impressive returns, with a 61.25% price total return over the past year and a 51.29% return year-to-date. This positive trend aligns with the company's robust financial health, as indicated by its revenue growth of 15.21% in the last twelve months and a substantial EBITDA growth of 39.35% over the same period.
Despite the recent insider sale by director Michael A. Plater, LINC's market position remains strong. The company's market capitalization stands at $479.11 million, reflecting investor confidence in its business model and growth prospects. InvestingPro Tips highlight that LINC operates with a moderate level of debt and has liquid assets exceeding short-term obligations, suggesting a stable financial foundation.
It's worth noting that while the company is trading at a high earnings multiple with a P/E ratio of 47.24, analysts predict that LINC will remain profitable this year. This optimism is further supported by the company's gross profit margin of 58.02%, indicating efficient operations and potential for continued growth.
For investors seeking more comprehensive analysis, InvestingPro offers 14 additional tips for LINC, providing a deeper understanding of the company's financial health and market position.
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