APEI American Public Education, Inc.

XNAS 40.88 Delayed
Find condors

Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

APEI $40.88 —
Key stats
$40.88
52-Week Range
$32.96 – $61.59
YTD
+13.08%
IV Rank (30D)
7.97
Straddle Price
$4.17
P/C Vol Ratio
0.61
Market Cap
$0.7B
Open
$41.58
Day Range
$40.45 – $41.89
Volume
145,672
Prev Close
$41.16
Fair Value
MODEL: SHORT

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)4.88%
Beta vs SPY0.83
Cost of Equity (CAPM)9.02% (VRP-adj)
WACC8.59%
Volatility Risk Premium+14.6pp (IV − HV30)
Effective Tax Rate23.7%
Rev. Growth (YoY, DCF input)+5.2%
DCF Horizon10 years explicit + fade
Forward Tilt (NTM/TTM)×1.05 (applied to P/E, EV/EBITDA, P/S)
Free Cash Flow (TTM)$0.1B
Return on Equity (TTM)14.7%
Book / Price40.6% — banking bias active (P/B is primary)
Gross Margin (TTM)55.9%
FCF Margin (TTM)8.4%
Debt / Equity0.26
Quality Score2/6 — normal (10y DCF)
Market-Implied Growth-2.3% (reverse-DCF on current price)
SMA 50$44.39 (Market Anchor value)
SMA 20 / Bollinger Mid$43.99
Bollinger Width / SMA2035.6% (drives anchor stability)
Net Debt$-0.1B
Market Cap$1B
Peers used for multiples: CVSA, EDU, LAUR, LINC, LOPE, LRN, PRDO, STRA, UDMY, UTI (SIC-code peers; ETF co-membership was sector-incoherent)
60-Day Conviction
32%
20-Day Fair Value
≈ by Dec 14, 2026
$40.68
α -0.5% rank 74%
conviction
40%
40-Day Fair Value
≈ by Jan 12, 2027
$41.01
α +0.3% rank 74%
conviction
12%
60-Day Fair Value
≈ by Feb 10, 2027
$40.41
α -1.2% rank 74%
conviction
32%
MethodImplied PriceWeightDetail
DCF $62.77 24%
DDM (Gordon) n/a 0%
Peer P/E $39.53 7% median 15.5× · 9 peers
Peer EV/EBITDA $46.98 7% median 9.2× · 10 peers
Peer P/B $49.92 7% median 3.0× · 10 peers
Peer P/S $63.71 7% median 1.7× · 10 peers
Market Anchor (SMA50) $44.39 35% stability 72% (BB-width)
Options Expected (B-L 30d) $41.19 12% 10 strikes · skew -0.80
As of 2026-11-13 · updated
About
Industry (SIC)
SERVICES-EDUCATIONAL SERVICES (8200) · industry map
Exchange
XNAS
Market Cap
$0.7B
Employees
5,841
List Date
2007-11-09
CIK
0001201792
Last Earnings
Nov 9 after close · +2.8% vs ±15.8% expected
Headquarters
Charles Town, WV
Homepage
https://www.apei.com

American Public Education Inc provides online and campus based postsecondary education including various undergraduate and graduate degree programs. The fields of study include business administration, health science, technology, criminal justice, education, liberal arts, national security, military studies, intelligence, and homeland security. There are three reporting segments: the American Public University segment which is the key revenue generator, provides online postsecondary education as a distance-learning, graduate-level institution for military officers seeking a degree in military …

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart

Markers: E earnings, with the move options implied and the move that happened (amber when the stock moved more than implied) · ▲ ▼ insider open-market buys and sales, sized by dollar value · S splits. Intraday times are New York time; shaded bars are pre-market and after-hours.

Seasonality
'21'22'23'24'25'26Avg
Jan-4.64%-7.04%-5.83%6.22%4.58%15.57%1.48%
Feb0.62%-7.08%-11.54%-2.97%-2.67%8.32%-2.55%
Mar18.93%4.89%-48.13%32.09%9.47%23.46%6.79%
Apr-16.07%-12.08%6.34%-2.54%3.80%1.13%-3.24%
May-9.68%-28.44%-10.70%25.90%25.53%-15.03%-2.07%
Jun-3.61%12.61%0.42%-0.51%4.17%4.66%2.96%
Jul4.11%-2.12%3.09%14.38%-0.07%-14.10%0.88%
Aug-11.69%-34.54%10.50%-9.47%2.76%-14.11%-9.42%
Sep-2.25%-9.15%-4.78%-5.21%27.86%-8.00%-0.26%
Oct-3.66%39.85%-11.46%6.16%-13.66%-6.43%1.80%
Nov-26.98%1.66%90.10%36.29%7.75%-1.71%*17.85%
Dec12.89%-8.42%17.54%3.75%7.20%--6.59%
Total-40.49%-51.35%-11.58%144.87%98.04%-13.23%21.04%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $43.57
SMA 50: $44.30
SMA 200: $49.67
Current: $40.88
EMA 12: $41.55
EMA 26: $43.08
MACD: -1.5341 | Signal: -0.2127
BEARISH
ADX (14): 28.27
TREND
+DI: 23.50
−DI: 31.21

Momentum Oscillators

RSI (14): 42.47
NEUTRAL
Stoch %K: 42.33
Stoch %D: 38.45
Williams %R: -59.45

Volume & Volatility

BB Upper: $51.13
BB Lower: $36.02
NEUTRAL
OBV: 15,951,632
Vol SMA 20: 263,263
Vol ROC: -54.93%
ATR: $2.27
True Range: $1.44
HV 20: 62.7%
HV 30: 54.9%
HV 60: 44.0%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-11-15T00:00:00 – 2026-11-13T00:00:00
AI Analysis

Click Frenzy-Pro™ for an AI analysis of this ticker.

Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.

Earnings History
10 of 18 under expected move
Avg Expected Move
16.35%
Avg Actual Move
15.50%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2021-05-10 After-Close 8.04% 13.07% 1.63x Exceeded
2021-08-09 After-Close 12.06% 9.89% 0.82x Within
2021-11-08 After-Close 6.56% 3.71% 0.57x Within
2023-03-14 After-Close 15.12% 50.76% 3.36x Exceeded
2023-05-09 After-Close 15.49% 11.66% 0.75x Within
2023-08-08 After-Close 27.19% 12.48% 0.46x Within
2023-11-07 After-Close 23.95% 27.91% 1.17x Exceeded
2024-03-05 After-Close 18.73% 36.94% 1.97x Exceeded
2024-05-07 After-Close 16.34% 17.72% 1.08x Exceeded
2024-08-06 After-Close 22.26% 27.94% 1.26x Exceeded
2024-11-12 After-Close 14.43% 14.61% 1.01x Exceeded
2025-05-12 After-Close 15.46% 5.88% 0.38x Within
2025-08-06 After-Close 15.78% 7.93% 0.50x Within
2025-11-10 After-Close 20.61% 4.88% 0.24x Within
2026-03-12 After-Close 15.61% 21.19% 1.36x Exceeded
2026-05-11 After-Close 13.93% 5.98% 0.43x Within
2026-08-10 After-Close 16.88% 3.52% 0.21x Within
2026-11-09 After-Close 15.80% 2.84% 0.18x Within

Earnings calendar: this week’s reports with expected vs actual moves →

APEI Options Activity & IV Rank

APEI IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 40.3%
7-DTE IV: 43.9%
Expected Move: $4.17
7-DTE Move: $2.10
Days to Exp: 35 (2026-12-18)

Options Flow · All expiries

Call Volume: 472
Put Volume: 290
P/C Volume: 0.614
BULLISH
Call OI: 1,553
Put OI: 856
P/C OI: 0.551
Total OI: 2,409

ATM Options Pricing

ATM Call: $2.60
ATM Put: $1.57
Call %: 6.4%
Put %: 3.9%

Chain Summary

Chain Volume: 762
Chain OI: 2,409
Last Updated: 11/13/2026
Spread Scanner
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Scanning bull put, bear call, iron condor and calendar spreads…

Dealer Positioning
TYPICAL γ

Estimated net dealer gamma is at the 53rd percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
53%
vs own history
GEX tilt
+0.24
OI-weighted, today
Vanna tilt
+0.88
δ-sensitivity to IV
Charm tilt
-0.94
δ-decay vs time
Vanna tilt +0.88: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.94: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.

Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.

Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.

Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.

· 10 ATM contracts, 1k total OI
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Put vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Call vs ATM
IV(call wing) − IV(ATM), in vol points

The same measure on the upside: how the OTM call is priced against the at-the-money strike.

  • Negative (typical) — calls trade below ATM for most stocks and indices, so the sign alone says little.
  • Percentile vs own history: high = upside calls unusually rich for this name (squeezes, takeover talk, commodity supply scares); low = calls cheaper than usual.
Reading them together

Put or call vs ATM tells you how expensive that tail is. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d put —
— pts EXTREME
as of Nov 13 · No data
30 DTE / 10d put 11%
+5.5 pts EXTREME
as of Nov 13 · ATM 40.6% / Put 46.0%

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Loading the implied volatility surface…

Volatility Smile

Loading the implied volatility smile…

IV Rank (7 DTE)12.6LowNov 13
IV Rank (30 DTE)8.0LowNov 13

Embed APEI IV rank

APEI's 30-day IV rank (90 sessions) with its 52-week rank, at-the-money IV and a 90-session trend. Updates after each close. Paste the code into any web page or blog post. Email newsletters drop iframes, so link to the page there.

Theme
Preview
Straddle Price (30 DTE)$4.17Nov 13
Beta Analysis

Risk Metrics

Beta: 0.4842
Alpha: 21.32%
Correlation: 0.1432
R-Squared: 2.1%
Stock Volatility: 46.1%
Market Volatility: 13.6%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time
Notable investors who own APEI
3 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Renaissance Technologies Hedge fund
Jim Simons
$48.9M
0.07%
#340 of 3138-1.0%13F
Citadel Hedge fund
Ken Griffin
$688K
0.00%
#4125 of 6285-88.8%13F
Rockefeller Capital Management Family office
Rockefeller family
$26K
0.00%
#3658 of 4729-22.9%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

APEI Institutional Ownership (13F)

Filings for 2026-06-30 · 63 already for 2026-09-30
Diluted shares outstanding: 18,792,500 (as of 2026-09-30)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

202 filers19,341,871 shares$1.00B value102.92% of float
# Filer Shares Value % of Total % of Float Period
1 BlackRock, Inc. Custodian 1,772,227 $95.17M 9.47% 9.43% 2026-06-30
2 325 CAPITAL LLC 1,183,732 $63.57M 6.33% 6.30% 2026-06-30
3 FMR LLC Custodian 1,183,609 $63.56M 6.33% 6.30% 2026-06-30
4 Divisadero Street Capital Management, LP 1,169,356 $62.79M 6.25% 6.22% 2026-06-30
5 RENAISSANCE TECHNOLOGIES LLC 910,620 $48.90M 4.87% 4.85% 2026-06-30
6 Vanguard Capital Management LLC 718,498 $38.58M 3.84% 3.82% 2026-06-30
7 American Century Companies, Inc. 694,506 $37.29M 3.71% 3.70% 2026-06-30
8 Dimensional Fund Advisors LP Custodian 727,821 $30.70M 3.06% 3.87% 2026-09-30
9 ACADIAN ASSET MANAGEMENT LLC 542,407 $29.11M 2.90% 2.89% 2026-06-30
10 Driehaus Capital Management LLC 534,665 $28.71M 2.86% 2.85% 2026-06-30
11 Prescott Group Capital Management, L.L.C. 679,749 $28.67M 2.85% 3.62% 2026-09-30
12 No Street GP LP 507,283 $27.24M 2.71% 2.70% 2026-06-30
13 Bank of America Corp Custodian 455,165 $24.44M 2.43% 2.42% 2026-06-30
14 Vanguard Portfolio Management LLC 412,763 $22.17M 2.21% 2.20% 2026-06-30
15 Geode Capital Management, LLC Custodian 519,070 $21.90M 2.18% 2.76% 2026-09-30
16 Qube Research & Technologies Ltd 400,984 $21.53M 2.14% 2.13% 2026-06-30
17 State Street Corp 395,429 $21.23M 2.11% 2.10% 2026-06-30
18 ROYCE & ASSOCIATES LP 378,133 $20.31M 2.02% 2.01% 2026-06-30
19 Goldman Sachs Group Inc Custodian 369,274 $19.83M 1.97% 1.97% 2026-06-30
20 SYSTEMATIC FINANCIAL MANAGEMENT LP 225,435 $12.11M 1.21% 1.20% 2026-06-30
21 Arrowstreet Capital, Limited Partnership 224,096 $12.03M 1.20% 1.19% 2026-06-30
22 PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 195,000 $10.47M 1.04% 1.04% 2026-06-30
23 OSSIAM 193,449 $10.39M 1.03% 1.03% 2026-06-30
24 Nuveen, LLC Custodian 181,881 $9.77M 0.97% 0.97% 2026-06-30
25 OBERWEIS ASSET MANAGEMENT INC/ 172,400 $9.26M 0.92% 0.92% 2026-06-30
3 filers$6.27M notional
# Filer Notional Value % of Total Period
1 Jane Street Group, LLC Custodian $4.61M 73.46% 2026-06-30
2 Citadel Advisors LLC Custodian $1.32M 20.98% 2026-06-30
3 Susquehanna International Group, LLP Custodian $349.05K 5.57% 2026-06-30
3 filers$3.66M notional
# Filer Notional Value % of Total Period
1 Citadel Advisors LLC Custodian $1.43M 39.00% 2026-06-30
2 Susquehanna International Group, LLP Custodian $1.26M 34.31% 2026-06-30
3 Jane Street Group, LLC Custodian $977.34K 26.69% 2026-06-30

APEI Insider Trading (Form 4)

Latest: 2026-10-29
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-10-29 Shira Goodman Director Award (A) +1,351 — EDGAR
2026-10-26 James Kenigsberg Chief Innov. & Tech Officer Sell (S) −1,256 $47.69 -$59.9K EDGAR
2026-10-21 Edward H Codispoti EVP & Chief Financial Officer Tax (F) −689 $48.56 -$33.5K EDGAR
2026-10-02 Daniel S. Pianko Director Award (A) +1,106 $36.15 $40.0K EDGAR
2026-08-13 James Kenigsberg Chief Inno & Tech Officer Sell (S) −1,313 $45.72 -$60.0K EDGAR
2026-08-13 Nuno S. Fernandes President, APUS Mixed
Exer +8,800 · Sell −8,800
 — $27.89 -$303.3K EDGAR
2026-08-05 James Kenigsberg Chief Inno & Tech Officer Mixed
Grant +7,573 · Tax −2,133
 +5,440 $53.42 -$113.9K EDGAR
2026-07-02 Daniel S. Pianko Director Award (A) +1,107 $36.15 $40.0K EDGAR
2026-06-23 Thomas Beckett SVP, General Counsel Sell (S) −2,000 $54.00 -$108.0K EDGAR
2026-06-17 Thomas Beckett SVP, General Counsel Sell (S) −8,000 $51.77 -$414.2K EDGAR
2026-05-27 325 Capital GP, LLC Award (A) +2,135 — EDGAR
2026-05-26 James Kenigsberg Int Chief Inno & Tech Officer Tax (F) −1,286 $51.50 -$66.2K EDGAR
2026-05-26 Richard J. Statuto Director Award (A) +2,135 — EDGAR
2026-05-26 Daniel S. Pianko Director Award (A) +2,135 — EDGAR
2026-05-26 Anna M. Fabrega Director Award (A) +2,135 — EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

APEI Insider Holdings

21 insiders · @ $40.88
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 325 CAPITAL LLC Director 2,159,299 $88.27M -$3.98M 2 2025-05-30
2 Daniel M. Friedberg 10%+ Owner 1,445,248 $59.08M $15.04M 7 2025-05-29
3 325 Capital Master Fund LP 1,271,977 $52.00M -$18.74M 5 2026-03-23
4 325 Capital GP, LLC 1,209,112 $49.43M -$16.56M 5 2026-05-27
5 Angela K. Selden President and CEO 626,808 $25.62M $0 28 2026-03-12
6 Richard W Sunderland Jr EVP, Chief Financial Officer 159,559 $6.52M -$843.6K 56 2025-06-03
7 Nuno S. Fernandes President, APUS 78,575 $3.21M -$1.43M 21 2026-08-13
8 Craig S MacGibbon EVP, Chief Information Officer 67,379 $2.75M -$328.7K 17 2025-03-14
9 Eric C. Andersen Director 66,920 $2.74M -$225.6K 23 2025-04-01
10 Granetta B. Blevins Director 60,080 $2.46M $101.6K 8 2026-05-26
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

APEI Board & Officers

As of SEC filings through Oct 29, 2026

Directors 7

Officers 8

10% owners 1

Changes in the last 10 years (58)
Oct 27, 2026Shira Goodman became a director
Aug 5, 2026James Kenigsberg listed as Chief Inno & Tech Officer (previously Int Chief Inno & Tech Officer) in SEC filings
May 27, 2026Michael David Braner first listed as a director in an SEC filing
Mar 18, 2026Daniel M. Friedberg no longer listed as a 10% owner in SEC filings
Mar 18, 2026Anil K Shrivastava no longer listed as a 10% owner in SEC filings
Mar 18, 2026325 Capital LLC no longer listed as a director in SEC filings
Mar 18, 2026325 Capital LLC no longer listed as a 10% owner in SEC filings
Oct 20, 2025The company announced the departure of Richard W Sunderland Jr as EVP, Chief Financial Officer in an SEC filing
Oct 20, 2025Edward H Codispoti became EVP & Chief Financial Officer
Aug 6, 2025James Kenigsberg no longer listed as a director in SEC filings
Aug 6, 2025James Kenigsberg first listed as Int Chief Inno & Tech Officer in an SEC filing
May 29, 2025Michael David Braner no longer listed as a director in SEC filings
May 29, 2025325 Capital LLC first listed as a director in an SEC filing
Mar 6, 2025Richard J. Statuto became a director
Jan 22, 2025Mark L. Arnold became President, Rasmussen
Aug 20, 2024Daniel M. Friedberg first listed as a 10% owner in an SEC filing
Aug 20, 2024Anil K Shrivastava first listed as a 10% owner in an SEC filing
Aug 20, 2024325 Capital LLC first listed as a 10% owner in an SEC filing
Aug 14, 2024Michael David Braner first listed as a 10% owner in an SEC filing
Dec 26, 2023Karmela Gaffney became SVP, Chief Marketing Officer
Not reported recently (21)
  • Eric C. Andersen · Last reported as a director in an SEC filing dated Apr 1, 2025
  • Craig S MacGibbon · Last reported as EVP, Chief Information Officer in an SEC filing dated Mar 14, 2025
  • Harry T Wilkins · Last reported as CEO Hondros College of Nursing in an SEC filing dated Mar 5, 2025
  • William G Robinson Jr · Last reported as a director in an SEC filing dated May 20, 2024
  • Barbara Kurshan · Last reported as a director in an SEC filing dated Nov 29, 2023
  • Paula R Singer · Last reported as Acting President, Rasmussen in an SEC filing dated Apr 21, 2023
  • Javier Miyares · Last reported as Acting President, Rasmussen in an SEC filing dated Jun 13, 2022
  • Timothy J Landon · Last reported as a director in an SEC filing dated May 19, 2022
  • Thomas M Slagle · Last reported as CEO, Rasmussen in an SEC filing dated Mar 10, 2022
  • Vernon C. Smith · Last reported as Provost, APUS in an SEC filing dated Feb 9, 2022
  • Amy B. Manning · Last reported as SVP, Chief HR Officer in an SEC filing dated Jan 25, 2022
  • Katherine H. Zatz · Last reported as Acting President, APUS in an SEC filing dated Nov 24, 2021
  • Kevin Delano · Last reported as COO & SVP, Bus. Unit Services in an SEC filing dated Sep 2, 2021
  • Barbara Fast · Last reported as a director in an SEC filing dated Apr 16, 2021
  • Robert E. Gay · Last reported as SVP, COO, Apus in an SEC filing dated Mar 15, 2021
  • Elizabeth LaGuardia Cooper · Last reported as SVP, Chief Marketing Officer in an SEC filing dated Mar 15, 2021
  • Amy Bevilacqua · Last reported as SVP, Chief Innovation Officer in an SEC filing dated Mar 9, 2020
  • Amy Panzarella · Last reported as SVP, HR & Community Affairs in an SEC filing dated Mar 8, 2019
  • Westley Moore · Last reported as a director in an SEC filing dated Oct 3, 2017
  • Karan Powell · Last reported as Pres., APUS in an SEC filing dated Mar 13, 2017
  • Carol S Gilbert · Last reported as EVP, Programs and Marketing in an SEC filing dated Dec 16, 2016
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.

APEI Proposed Insider Sales (Form 144)

Latest: 2026-10-22
Last 30d: 1 filing · $60K notice value  ·  Last 90d: 3 filings · $525K notice value · 2 unique filers · 67% under 10b5-1 plans

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Top 90-day filers: Fernandes Nuno S. (1, $405K) · Kenigsberg James (2, $120K)
Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2026-10-22 Kenigsberg James Officer 1,256 $59.9K 2026-10-22 Fidelity Brokerage Services LLC 10b5-1 EDGAR
2026-08-12 Fernandes Nuno S. Officer 8,800 $405.3K 2026-08-12 Fidelity Brokerage Services LLC — EDGAR
2026-08-12 Kenigsberg James Officer 1,313 $60.0K 2026-08-12 Fidelity Brokerage Services LLC 10b5-1 EDGAR
2026-06-22 Beckett Thomas Officer 2,000 $108.0K 2026-06-22 Fidelity Brokerage Services LLC 10b5-1 EDGAR
2026-06-15 Beckett Thomas Officer 8,000 $414.2K 2026-06-15 Fidelity Brokerage Services LLC 10b5-1 EDGAR
2026-05-13 Fernandes Nuno S. Officer 4,500 $240.0K 2026-05-13 Fidelity Brokerage Services LLC — EDGAR
2026-03-19 Fernandes Nuno S. Officer 1,100 $59.5K 2026-03-19 Fidelity Brokerage Services LLC — EDGAR
2026-03-17 Gaffney Karmela Officer 2,700 $150.9K 2026-03-17 Fidelity Brokerage Services LLC — EDGAR
2026-03-17 325 CAPITAL LLC Director 215,000 $12.04M 2026-03-16 Jones Trading — EDGAR
2026-03-16 Axenson Tanya Joy Officer 20,000 $1.11M 2026-03-16 Fidelity Brokerage Services LLC — EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
Recent SEC Filings
Latest: 2026-11-09
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
Filing Date Event Link
2026-11-09 Earnings results EDGAR
2026-10-27 Director or officer change · Regulation FD disclosure EDGAR
2026-08-10 Earnings results EDGAR
2026-08-05 Regulation FD disclosure EDGAR
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
Filing Date Accession Link
Quarterly report — unaudited financials and MD&A. Filed 40–45 days after each of the first three fiscal quarters.
Filing Date Accession Link
2026-11-09 0001201792-26-000016 EDGAR
2026-08-10 0001201792-26-000012 EDGAR
ETF Holders
64 ETFs hold APEI
25 shown · $126.90M total exposure · 0.03% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 AVUV Avantis U.S. Small Cap Value ETF Avantis 0.08% $25.1M $32.8B 2026-11-12
2 VTI Vanguard Morningstar Total Stock Market ETF Vanguard 0.00% $20.7M — 2026-09-30
3 IWM iShares Russell 2000 ETF iShares (BlackRock) 0.02% $19.2M $76.8B 2026-11-12
4 DFAT Dimensional US Targeted Value ETF Dimensional 0.03% $9.6M — 2026-11-12
5 VXF Vanguard Extended Market ETF Vanguard 0.01% $8.7M — 2026-09-30
6 IWO iShares Russell 2000 Growth ETF iShares (BlackRock) 0.05% $7.0M $13.9B 2026-11-12
7 DFAS Dimensional US Small Cap ETF Dimensional 0.02% $5.6M — 2026-11-12
8 VTWO Vanguard Russell 2000 ETF Vanguard 0.02% $4.4M — 2026-09-30
9 DFAC Dimensional US Core Equity 2 ETF Dimensional 0.00% $3.4M — 2026-11-12
10 DFMC Dimensional US Micro Cap ETF Dimensional 0.04% $2.7M — 2026-11-12
11 VCR Vanguard Consumer Discretionary ETF Vanguard 0.04% $2.7M — 2026-09-30
12 CALF Pacer US Small Cap Cash Cows 100 ETF Nport 0.07% $2.4M — 2026-07-31
13 IWC iShares Micro-Cap ETF iShares (BlackRock) 0.19% $2.2M $1.2B 2026-11-12
14 ITOT iShares Core S&P Total U.S. Stock Market ETF iShares (BlackRock) 0.00% $1.3M $95.8B 2026-11-12
15 VFMO Vanguard U.S. Momentum Factor ETF Vanguard 0.07% $1.3M — 2026-11-12
16 DCOR Dimensional US Core Equity 1 ETF Dimensional 0.00% $1.2M — 2026-11-12
17 PRFZ Invesco RAFI US 1500 Small-Mid ETF Nport 0.04% $1.2M — 2026-07-31
18 AVSC Avantis U.S. Small Cap Equity ETF Avantis 0.04% $1.2M $3.3B 2026-11-12
19 SFLO VictoryShares Small Cap Free Cash Flow ETF Nport 0.19% $1.2M — 2026-06-30
20 PSL Invesco Dorsey Wright Consumer Staples Momentum ETF Nport 1.32% $1.1M — 2026-07-31
21 GSSC Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF Goldman 0.10% $1.0M $1.1B 2026-11-12
22 SEIS SEI Select Small Cap ETF Nport 0.17% $1.0M — 2026-06-30
23 PSC Principal U.S. Small-Cap ETF Nport 0.04% $952,047 — 2026-06-30
24 VFMF Vanguard U.S. Multifactor ETF Vanguard 0.08% $911,941 — 2026-11-12
25 VTWG Vanguard Russell 2000 Growth ETF Vanguard 0.05% $817,955 — 2026-09-30
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
16.69
TTM Diluted EPS
$2.45
TTM Revenue
$673.94M
TTM Net Income
$46.00M
TTM Op. Cash Flow
$75.73M
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q3 '262026-09-30$169.14M$5.89M$0.32$11.84M
Q2 '262026-06-30$171.73M$9.77M$0.52$12.14M
Q1 '262026-03-31$174.74M$17.73M$0.94$63.30M
Q4 '252025-12-31$158.33M$12.61M$0.67$-11.55M
Q3 '252025-09-30$163.22M$5.56M$0.30$21.71M
Q2 '252025-06-30$162.77M$-324.00K$-0.02$14.81M
Q1 '252025-03-31$164.55M$7.46M$0.41$37.00M
Q4 '242024-12-31$164.11M$11.51M$0.63$1.60M
Q3 '242024-09-30$153.12M$731.00K$0.04$14.07M
Q2 '242024-06-30$152.90M$-1.16M$-0.06$12.45M
Q1 '242024-03-31$154.43M$-1.02M$-0.06$20.74M
Q4 '232023-12-31$152.80M$11.47M$0.61$-3.14M
Q3 2026 • period ending 2026-09-30 • filed 2026-11-09
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
16.69
P/B
2.45
P/S
1.15
EV/EBITDA
8.36
EV/Sales
1.05
ROE
14.5%
ROA
8.5%
Div Yield
0.00%
FCF Yield
11.13%
Debt/Equity
0.26
Current Ratio
—
Market Cap
$768.95M
as of 2026-11-13

APEI vs Peers

Related companies, largest first
Company Market cap P/E Revenue growth YTD IV rank
COST Costco Wholesale Corp $484.0B 53.3 +10.1% +29.5% 90
PM Philip Morris International Inc. $306.5B 29.0 +7.9% +24.1% 22
MNST Monster Beverage Corporation $89.2B 42.2 +20.2% +22.0% 31
CHD Church & Dwight Co., Inc. $26.4B 34.8 +1.7% +36.7% 26
CASY Casey's General Stores Inc $26.1B 34.3 +13.8% +28.0% 74
USFD US Foods Holding Corp. $23.2B 30.3 +3.1% +45.3% 22
PFGC Performance Food Group Company $17.3B 44.3 +5.9% +26.3% 15
DAR DARLING INGREDIENTS INC. $8.6B 10.6 +15.9% +48.8% 32
APEI American Public Education, Inc. $749M 16.7 +2.9% +13.1% 8
Peer median $26.2B 34.5 +9.0% +28.7% 29

P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.

Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
2.54M
SI % of Float
15.71%
Days to Cover
15.38
Short Vol Ratio
52.6%
Free Float
16.17M
Float %
88.3%
Short interest 2026-10-30 • Short volume 2026-11-13 • Float 2026-08-24