LINCNasdaqServices-Educational ServicesFiscal year ends December 31
LINCOLN EDUCATIONAL SERVICES CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$22.37+0.15 (+0.68%)
Close on Oct 19, 2026
- Market cap
- $702.84M
- P/E (TTM)
- 35.0
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
94.7%
30M of 32M shares
Institutional holders
221
51 new, 20 sold out
Net institutional buying
2M
In Q2 2026
Insider trades, 12 months
0 buys · 23 sales
Net sold $31.77M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Alexis P. Michas | 2,759,630 | 8.80% | 13D (active) amendment | Feb 28, 2025 |
| BlackRock, Inc. | 2,389,537 | 7.50% | 13G (passive) amendment | Jun 30, 2026 |
| John A. Bartholdson | 1,945,424 | 6.10% | 13D (active) amendment | Jun 11, 2026 |
| William R. Nasgovitz | 1,745,400 | 5.60% | 13G (passive) amendment | Dec 31, 2023 |
| Anand Parekh | 1,626,623 | 5.14% | 13G (passive) | Dec 31, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of LINC | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 2,483,081 | 7.83% | $123.91M | +300,567 | 0.00% |
| Juniper Investment Company, LLC | 1,732,966 | 5.46% | $86.48M | −205,345 | 22.90% |
| Alliancebernstein L.P. | 1,562,856 | 4.93% | $63.58M | +1,534,396 | 0.02% |
| Needham Investment Management LLC | 1,325,000 | 4.18% | $66.12M | +47,500 | 1.99% |
| First Eagle Investment Management, LLC | 1,231,060 | 3.88% | $61.43M | +545,830 | 0.05% |
| Vanguard Capital Management LLC | 1,221,492 | 3.85% | $60.95M | +19,362 | 0.00% |
| Next Century Growth Investors LLC | 1,175,462 | 3.71% | $58.66M | +134,860 | 3.11% |
| Driehaus Capital Management LLC | 951,576 | 3.00% | $47.48M | +274,653 | 0.28% |
| Geode Capital Management, LLC | 877,173 | 2.77% | $43.78M | +136,404 | 0.00% |
| American Century Companies Inc | 814,084 | 2.57% | $40.62M | +5,782 | 0.02% |
| Alyeska Investment Group, L.P. | 730,658 | 2.30% | $36.46M | −47,175 | 0.09% |
| Dimensional Fund Advisors LP | 696,256 | 2.19% | $34.74M | +1,508 | 0.01% |
| State Street Corp | 668,753 | 2.11% | $33.37M | +78,683 | 0.00% |
| Lord, Abbett & Co. LLC | 615,479 | 1.94% | $30.71K | −7,686 | 0.09% |
| Wasatch Advisors LP | 547,975 | 1.73% | $27.34M | −229,376 | 0.18% |
| Nicholas Investment Partners, LP | 531,935 | 1.68% | $26.54M | +72,426 | 1.49% |
| RBF Capital, LLC | 499,070 | 1.57% | $24.90M | – | 1.03% |
| Royce & Associates LP | 450,371 | 1.42% | $22.47M | +91,707 | 0.18% |
| Goldman Sachs Group Inc | 437,748 | 1.38% | $21.84M | +268,724 | 0.00% |
| Prudential Financial Inc | 428,360 | 1.35% | $21.38M | +420,940 | 0.02% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 221 | 30M | 94.7% | 51 / 95 | 60 / 20 | 7M | 5M |
| Q1 2026 | 193 | 28M | 88.1% | 61 / 54 | 61 / 16 | 8M | 6M |
| Q4 2025 | 153 | 27M | 86.4% | 18 / 56 | 59 / 11 | 3M | 2M |
| Q3 2025 | 147 | 27M | 83.6% | 23 / 49 | 53 / 15 | 3M | 2M |
| Q2 2025 | 139 | 26M | 80.9% | 32 / 52 | 39 / 18 | 5M | 2M |
| Q1 2025 | 125 | 23M | 72.7% | 21 / 50 | 41 / 7 | 3M | 2M |
| Q4 2024 | 112 | 21M | 67.8% | 19 / 48 | 35 / 12 | 2M | 1M |
| Q3 2024 | 106 | 21M | 66.5% | 11 / 51 | 31 / 9 | 4M | 2M |
| Q2 2024 | 106 | 23M | 73.9% | 21 / 39 | 34 / 9 | 3M | 3M |
| Q1 2024 | 94 | 24M | 74.2% | 7 / 37 | 39 / 7 | 2M | 1M |
| Q4 2023 | 94 | 23M | 72.6% | 11 / 37 | 31 / 6 | 1M | 1M |
| Q3 2023 | 89 | 23M | 72.5% | 17 / 30 | 29 / 4 | 2M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of LINC | Value | % of fund | As of |
|---|---|---|---|---|---|
| Needham Aggressive Growth Fund | 1,325,000 | 4.18% | $66.12M | 2.53% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 855,707 | 2.70% | $42.70M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 789,214 | 2.49% | $39.38M | 0.05% | Jun 30, 2026 |
| AB Small Cap Growth Portfolio | 739,997 | 2.33% | $36.93M | 1.18% | Jun 30, 2026 |
| Avantis U.S. Small Cap Value ETF | 623,908 | 1.97% | $28.90M | 0.11% | May 31, 2026 |
| First Eagle Small Cap Opportunity Fund | 518,188 | 1.63% | $21.67M | 0.75% | Jul 31, 2026 |
| Lord Abbett Developing Growth Fund Inc | 368,125 | 1.16% | $15.39M | 0.69% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 337,131 | 1.06% | $16.82M | 0.02% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 329,851 | 1.04% | $13.79M | 0.04% | Jul 31, 2026 |
| iShares Russell 2000 Growth ETF | 278,769 | 0.88% | $13.91M | 0.09% | Jun 30, 2026 |
| Wasatch Micro Cap Fund | 255,515 | 0.81% | $12.75M | 1.89% | Jun 30, 2026 |
| SmallCap Growth Fund I | 247,021 | 0.78% | $10.33M | 0.42% | Jul 31, 2026 |
| Auxier Focus Fund | 187,862 | 0.59% | $9.37M | 2.84% | Jun 30, 2026 |
| Small Cap Dynamic Growth Fund | 183,100 | 0.58% | $8.48M | 1.61% | May 31, 2026 |
| Wasatch Micro Cap Value Fund | 164,965 | 0.52% | $8.23M | 2.13% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Scott M. Shaw | CEO, Director | 1,104,841 | 3.48% | Mar 3, 2026 |
| Alexandra M. Luster | SVP and General Counsel | 82,356 | 0.26% | Jun 15, 2026 |
| Brian K. Meyers | CFO and Treasurer | 160,712 | 0.51% | May 13, 2026 |
| Chad D. Nyce | EVP & Chief Operating Officer | 174,206 | 0.55% | Mar 12, 2026 |
| Stephen E. Ace | SVP and Chief Human Resources | 155,098 | 0.49% | Mar 3, 2026 |
| Kevin M. Carney | Director | 55,573 | 0.18% | Jun 10, 2026 |
| Felecia J. Pryor | Director | 14,801 | 0.05% | Jun 4, 2026 |
| James J. Burke Jr | Director | 44,198 | 0.14% | May 27, 2026 |
| Marta Newhart | Director | 10,059 | 0.03% | May 8, 2026 |
| Sylvia Jean Young | Director | 15,192 | 0.05% | May 8, 2026 |
| Michael A. Plater | Director | 20,063 | 0.06% | May 8, 2026 |
| Anna Escobedo Cabral | Director | 10,059 | 0.03% | May 8, 2026 |
| Carlton Rose | Director | 17,790 | 0.06% | May 8, 2026 |
| John A. Bartholdson | Director | 2,150,769 | 6.78% | May 8, 2026 |
| Juniper Investment Company, LLC | – | 1,995,889 | 6.29% | Jun 15, 2026 |
| Juniper Targeted Opportunities, LP | 10% owner | 2,566,626 | 8.09% | Mar 17, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Alexandra M. Luster SVP and General Counsel | Jun 15, 2026 | Sale | −18,007 | $44.64 | $803.83K | 82,356 |
| Juniper Investment Company, LLC – | Jun 12, 2026 | Sale | −37,000 | $46.88 | $1.73M | 1,732,966 |
| Juniper Investment Company, LLC – | Jun 11, 2026 | Sale | −11,812 | $47.87 | $565.44K | 1,781,778 |
| Kevin M. Carney Director | Jun 10, 2026 | Sale | −3,000 | $48.00 | $144.00K | 25,039 |
| Kevin M. Carney Director | Jun 8, 2026 | Other | +3,216 | – | – | 28,039 |
| Kevin M. Carney Director | Jun 8, 2026 | Other | −3,216 | – | – | 2,495 |
| Alexandra M. Luster SVP and General Counsel | Jun 5, 2026 | Sale | −1,993 | $50.11 | $99.87K | 100,363 |
| Juniper Investment Company, LLC – | Jun 4, 2026 | Sale | −25,208 | $51.13 | $1.29M | 1,781,778 |
| Juniper Investment Company, LLC – | Jun 3, 2026 | Sale | −81,504 | $50.10 | $4.08M | 1,806,986 |
| Felecia J. Pryor Director | Jun 3, 2026 | Sale | −2,000 | $49.70 | $99.40K | 14,801 |
| James J. Burke Jr Director | May 22, 2026 | Sale | −15,807 | $48.36 | $764.43K | 44,198 |
| James J. Burke Jr Director | May 18, 2026 | Sale | −16,000 | $49.54 | $792.64K | 60,005 |
| Juniper Investment Company, LLC – | May 15, 2026 | Sale | −1,985 | $50.11 | $99.47K | – |
| James J. Burke Jr Director | May 14, 2026 | Sale | −193 | $51.76 | $9.99K | 76,005 |
| Juniper Investment Company, LLC – | May 14, 2026 | Sale | −47,836 | $51.16 | $2.45M | – |
| Brian K. Meyers CFO and Treasurer | May 12, 2026 | Sale | −40,070 | $49.98 | $2.00M | 160,712 |
| Sylvia Jean Young Director | May 7, 2026 | Award | +2,495 | $44.10 | $110.03K | 15,192 |
| Felecia J. Pryor Director | May 7, 2026 | Award | +2,495 | $44.10 | $110.03K | 16,801 |
| Anna Escobedo Cabral Director | May 7, 2026 | Award | +2,495 | $44.10 | $110.03K | 10,059 |
| Marta Newhart Director | May 7, 2026 | Award | +2,495 | $44.10 | $110.03K | 10,059 |
| James J. Burke Jr Director | May 7, 2026 | Award | +2,495 | $44.10 | $110.03K | 76,198 |
| John A. Bartholdson Director | May 7, 2026 | Award | +3,515 | $44.10 | $155.01K | 212,458 |
| Carlton Rose Director | May 7, 2026 | Award | +2,495 | $44.10 | $110.03K | 17,790 |
| Kevin M. Carney Director | May 7, 2026 | Award | +2,495 | $44.10 | $110.03K | 5,711 |
| Michael A. Plater Director | May 7, 2026 | Award | +2,495 | $44.10 | $110.03K | 20,063 |
| Chad D. Nyce EVP & Chief Operating Officer | Mar 10, 2026 | Sale | −8,450 | $36.50 | $308.43K | 174,206 |
| Sylvia Jean Young Director | Mar 6, 2026 | Sale | −7,959 | $35.81 | $285.01K | 12,697 |
| Michael A. Plater Director | Mar 2, 2026 | Sale | −17,256 | $35.73 | $616.56K | 17,568 |
| Brian K. Meyers CFO and Treasurer | Mar 1, 2026 | Tax withholding | −30,734 | $36.24 | $1.11M | 200,782 |
| Brian K. Meyers CFO and Treasurer | Mar 1, 2026 | Award | +4,329 | – | – | 231,516 |
| Stephen E. Ace SVP and Chief Human Resources | Mar 1, 2026 | Award | +833 | – | – | 155,098 |
| Stephen E. Ace SVP and Chief Human Resources | Mar 1, 2026 | Tax withholding | −5,019 | $36.24 | $181.89K | 150,079 |
| Chad D. Nyce EVP & Chief Operating Officer | Mar 1, 2026 | Tax withholding | −24,027 | $36.24 | $870.74K | 182,656 |
| Chad D. Nyce EVP & Chief Operating Officer | Mar 1, 2026 | Award | +4,329 | – | – | 206,683 |
| Scott M. Shaw CEO, Director | Mar 1, 2026 | Tax withholding | −72,839 | $36.24 | $2.64M | 1,104,841 |
| Scott M. Shaw CEO, Director | Mar 1, 2026 | Award | +9,991 | – | – | 1,177,680 |
| Alexandra M. Luster SVP and General Counsel | Mar 1, 2026 | Tax withholding | −4,741 | $36.24 | $171.81K | 102,356 |
| Alexandra M. Luster SVP and General Counsel | Mar 1, 2026 | Award | +833 | – | – | 107,097 |
| James J. Burke Jr Director | Feb 26, 2026 | Sale | −3,214 | $34.87 | $112.07K | 73,703 |
| Juniper Investment Company, LLC – | Feb 25, 2026 | Sale | −150,000 | $35.67 | $5.35M | 1,938,311 |
| Juniper Investment Company, LLC – | Feb 25, 2026 | Sale | −275,000 | $34.55 | $9.50M | 2,088,311 |
| James J. Burke Jr Director | Feb 25, 2026 | Sale | −5,343 | $34.69 | $185.35K | 76,917 |
| Alexandra M. Luster SVP and General Counsel | Feb 19, 2026 | Award | +4,821 | – | – | 106,264 |
| Stephen E. Ace SVP and Chief Human Resources | Feb 19, 2026 | Award | +4,821 | – | – | 154,265 |
| Scott M. Shaw CEO, Director | Feb 19, 2026 | Award | +70,716 | – | – | 1,167,689 |
| Chad D. Nyce EVP & Chief Operating Officer | Feb 19, 2026 | Award | +32,145 | – | – | 202,354 |
| Brian K. Meyers CFO and Treasurer | Feb 19, 2026 | Award | +32,145 | – | – | 227,187 |
| Kevin M. Carney Director | Dec 5, 2025 | Sale | −13,866 | $22.18 | $307.55K | 24,823 |
| Kevin M. Carney Director | Dec 4, 2025 | Sale | −7,604 | $22.64 | $172.15K | 38,689 |
| Chad D. Nyce EVP & Chief Operating Officer | Jun 6, 2025 | Sale | −6,200 | $22.93 | $142.17K | 170,209 |
| Carlton Rose Director | May 30, 2025 | Sale | −30,000 | $23.63 | $708.90K | 15,295 |
| Felecia J. Pryor Director | May 29, 2025 | Sale | −20,000 | $23.53 | $470.60K | 14,306 |
| Kevin M. Carney Director | May 19, 2025 | Gift | +46,293 | – | – | 46,293 |
| James J. Burke Jr Director | May 16, 2025 | Sale | −5,000 | $21.42 | $107.10K | 82,230 |
| James J. Burke Jr Director | May 15, 2025 | Sale | −10,000 | $21.40 | $214.00K | 87,230 |
| Felecia J. Pryor Director | May 7, 2025 | Award | +3,216 | $18.66 | $60.01K | 34,306 |
| Marta Newhart Director | May 7, 2025 | Award | +3,216 | $18.66 | $60.01K | 7,564 |
| John A. Bartholdson Chairman, Director | May 7, 2025 | Award | +5,628 | $18.66 | $105.02K | 208,943 |
| Carlton Rose Director | May 7, 2025 | Award | +3,216 | $18.66 | $60.01K | 45,295 |
| James J. Burke Jr Director | May 7, 2025 | Award | +3,216 | $18.66 | $60.01K | 97,230 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Alexandra M. Luster Officer | Jun 15, 2026 | 18,007 | $803.79K | Jun 15, 2026 | Vesting of restricted stock unit award |
| Kevin M. Carney Officer | Jun 10, 2026 | 3,000 | $144.00K | Jun 10, 2026 | Vesting of restricted stock unit awards |
| Alexandra M. Luster Officer | Jun 5, 2026 | 1,993 | $99.88K | Jun 5, 2026 | Vesting of restricted stock unit award |
| Felecia J. Pryor Officer | Jun 3, 2026 | 2,000 | $99.40K | Jun 3, 2026 | Vesting of restricted stock unit awards |
| Juniper Targeted Opportunity Fund, L.P. Affiliate | May 14, 2026 | 225,120 | $11.71M | May 14, 2026 | Open market purchases |
| J. Burke James Jr Director | May 14, 2026 | 32,000 | $1.63M | May 14, 2026 | Board compensation |
| Brian K. Meyers Officer | May 12, 2026 | 40,070 | $2.00M | May 12, 2026 | Vesting of restricted stock unit awards |
| Chad D. Nyce Policy-Making Officer | Mar 10, 2026 | 8,450 | $299.30K | Mar 9, 2026 | Stock Award |
| Sylvia Jean Young Officer | Mar 6, 2026 | 7,959 | $285.04K | Mar 6, 2026 | Vesting of restricted stock unit awards |
| Michael A. Plater Officer | Mar 2, 2026 | 17,256 | $616.48K | Mar 2, 2026 | Vesting of restricted stock units |
| Juniper Targeted Opportunity Fund, L.P. Affiliate | Feb 27, 2026 | 150,000 | $5.18M | Feb 27, 2026 | Open market purchases |
| Burke James DIRECTOR | Feb 26, 2026 | 3,214 | $112.81K | Feb 25, 2026 | STOCK BONUS |
| James J. Burke Jr Director | Feb 25, 2026 | 5,343 | $185.33K | Feb 25, 2026 | Vesting of restricted stock unit award |
| Juniper Targeted Opportunity Fund, L.P. Affiliate | Feb 25, 2026 | 275,000 | $9.75M | Feb 25, 2026 | Open market purchases |
| Kevin M. Carney Director | Dec 4, 2025 | 21,470 | $487.15K | Dec 4, 2025 | Vesting of restricted stock unit award |