Leon Cooperman (Trades, Portfolio), founder of hedge fund Omega Advisors Inc., reported owning 12 million shares of Aspen Group Inc. (OTCBB:ASPU, Financial), equal to 9.9% of the shares outstanding, as of April 23.
Aspen, an online post-secondary education company, saw its share price increase 46.3% over the past year to $0.22 per share.
In its fiscal third quarter the company announced a 28% increase in revenue from the previous year to $1.29 million. Its net loss was $1.24 million compared to $1.73 million.
The company highlighted in its results that its nursing program enrollment grew 57% year over year during the quarter to make up 38% of its total student body.
Aspen Group has a P/B ratio of 20, near a one-year high, and a market cap of $23.2 million.
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