Insider Buying: Aspen Group Inc (ASPU) Director Buys 2,584 Shares of Stock

Aspen Group Inc (NASDAQ:ASPU) Director Malcolm F. Iv Maclean acquired 2,584 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were acquired at an average cost of $7.10 per share, with a total value of $18,346.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ ASPU traded down $0.21 during trading hours on Friday, hitting $6.89. 28,993 shares of the company’s stock were exchanged, compared to its average volume of 41,247. Aspen Group Inc has a 1-year low of $5.85 and a 1-year high of $9.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.81 and a quick ratio of 3.25.

Aspen Group (NASDAQ:ASPU) last posted its quarterly earnings data on Thursday, September 6th. The technology company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Aspen Group had a negative return on equity of 31.50% and a negative net margin of 36.53%. The business had revenue of $7.22 million for the quarter, compared to analyst estimates of $7.19 million. analysts predict that Aspen Group Inc will post -0.33 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ASPU. Russell Investments Group Ltd. bought a new position in Aspen Group during the second quarter valued at about $2,467,000. Unterberg Capital LLC increased its stake in Aspen Group by 35.4% during the second quarter. Unterberg Capital LLC now owns 451,909 shares of the technology company’s stock valued at $3,376,000 after acquiring an additional 118,263 shares during the period. Penn Capital Management Co. Inc. bought a new position in Aspen Group during the second quarter valued at about $561,000. BlackRock Inc. bought a new position in Aspen Group during the second quarter valued at about $284,000. Finally, Granite Investment Partners LLC increased its stake in Aspen Group by 74.5% during the second quarter. Granite Investment Partners LLC now owns 76,073 shares of the technology company’s stock valued at $569,000 after acquiring an additional 32,476 shares during the period. 16.58% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on ASPU shares. ValuEngine cut Aspen Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research cut Aspen Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $12.13.

Aspen Group Company Profile

Aspen Group, Inc provides online higher education services in the United States. The company offers certificate programs; and associate, bachelor's, master's, and doctoral degree programs in a range of areas, including nursing, education, business, technology, management, health sciences, and professional and extended studies.

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