ARLINGTON, Va. ( TheStreet) -- Strayer Education (STRA - Get Report) shares tumbled nearly 25% in the first minutes of trading Monday after the postsecondary education company warned of slower student enrollment growth.
Strayer said late Friday that new student enrollments across its campus and online education system decreased by 20% for the 2011 winter term, which began Jan. 3, even as continuing student enrollments increased by 10%.
Piper Jaffray analyst Peter P. Appert slashed his price target on Strayer Education shares by $17 to $119, maintaining a neutral rating on the stock.
The analyst noted that "Strayer's much weaker than expected
The operator of Strayer University saw its shares shed 24.3% to $116.05 Monday morning.
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