Why DeVry Education Group Inc (DV) Stock Is Tanking Today

DeVry Education Group Inc (DV) stock was down Thursday following the news that its CFO is leaving.

DeVry Education, DY stockDeVry Education announced that CFO Timothy Wiggins is leaving the company. He has been replaced by Patrick Unzicker, who has also been named the company’s senior vice president and treasurer. The change occurred on May 31.

“Patrick will make a terrific CFO and I am pleased to see him take on this new assignment,” Wiggins said in the DeVry Education announcement. “I plan to stay through the end of our fiscal year to ensure a smooth transition.”

Analysts at Credit Suisse cut their rating for DV stock from “Outperform” to “Neutral” due to the change in CFOs at DeVry Education. The target price was also reduced from $25 to $17.

DV shares were down 11% as of Noon Thursday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/06/devry-education-dy-stock/.

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