Plymouth Lane Capital Management Lowers stake in ITT Educational Services (ESI)

ITT Educational Services (ESI) : Plymouth Lane Capital Management reduced its stake in ITT Educational Services by 49.76% during the most recent quarter end. The investment management company now holds a total of 579,772 shares of ITT Educational Services which is valued at $1,263,903 after selling 574,326 shares in ITT Educational Services , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.ITT Educational Services makes up approximately 1.45% of Plymouth Lane Capital Management’s portfolio.

Other Hedge Funds, Including , Credit Suisse Ag boosted its stake in ESI in the latest quarter, The investment management firm added 86,899 additional shares and now holds a total of 107,937 shares of ITT Educational Services which is valued at $235,303. Huntington National Bank sold out all of its stake in ESI during the most recent quarter. The investment firm sold 100 shares of ESI which is valued $221. Simplex Trading added ESI to its portfolio by purchasing 25,029 company shares during the most recent quarter which is valued at $53,812. ITT Educational Services makes up approx 0.01% of Simplex Trading’s portfolio.

ITT Educational Services opened for trading at $2.16 and hit $2.24 on the upside on Tuesday, eventually ending the session at $2.18, with a gain of 0.46% or 0.01 points. The heightened volatility saw the trading volume jump to 1,33,450 shares. Company has a market cap of $52 M.

On the company’s financial health, ITT Educational Services reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.22 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.04. The company had revenue of $176.30 million for the quarter, compared to analysts expectations of $179.05 million. The company’s revenue was down -17.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

ITT Educational Services Inc. is a provider of postsecondary degree programs in the United States. The Company had approximately 144 college locations in 39 states and offered one or more of its online programs to students who are located in all 50 states. The Company offers master bachelor and associate degree programs to around 53000 students and short-term information technology and business learning solutions for career advancers and other professionals. The Company designs its education programs after consultation with employers and other constituents to allow graduates prepare for careers in different fields involving their areas of study. The Company provides career-oriented education programs under the ITT Technical Institute name and the Daniel Webster College name. The Company’s education programs also include general education courses in the humanities composition mathematics the sciences and the social sciences.

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