Legacy Education: There's Still Value At The Current Price

  • Legacy Education's fundamentals have improved significantly, with Q3 revenue up 51% and operating profit up 55%, driven by new programs and an acquisition. The stock trades at a lower P/E than peers (15 times vs 18-20 on average), while growing more, offering further upside if re-rated to industry averages. Risks include ongoing dilution from acquisitions and stock-based compensation, as well as strict regulation in the for-profit education sector.