3P Learning downgraded

3P’s price has jumped above our buy price, so we’re downgrading to HOLD.

3P Learning has found some friends recently. Insiders were first, with Chairman Sam Weiss and non-executive director Roger Amos sporadically buying throughout March and April. An encouraging sign in the lead up to the full-year result. The institutions came next with two new funds (Wilson Asset Management and Australian Ethical) becoming substantial shareholders.

More buying enthusiasm for 3P Learning has meant a higher price. We tend to give smaller companies a bit more wiggle room above our buy price because their share prices can bounce around a lot. But with 3P Learning now 12% above our buy price, we're downgrading to HOLD.

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