Devry Education Group Inc. (DV): International Value Advisers Cashing In

Charles de Vaulx’s International Value Advisors disclosed a nearly 20% activist position in Devry Education Group Inc. (NYSE:DV) back in June when the shares of the education company were trading around $17. Devry’s shares didn’t disappoint its new activist value investor and returned about 50% since then. Charles de Vaulx must have been satisfied with the progress and has been trimming his position since the stock hit $22 in July. Today, International Value Advisors amended its 13D filing and disclosing that its stake in Devry went down to 16.8%. You can see the details of the filing below or access the original SEC filing by clicking here.

We don’t think this is a negative indicator or a sign of loss of confidence. Devry’s weight in Charles de Vaulx’s portfolio is higher today than it was in June mainly because of the 50% gain in share price.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
International Value Advisers 10,502,491 10,502,491 16.8%
Charles de Vaulx 10,502,491 10,502,491 16.8%
Charles de Lardemelle 10,502,491 10,502,491 16.8%
Charles De Vaulx
Charles De Vaulx
International Value Advisers

Page 1 of 7 – SEC Filing


SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13D

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d
-2(a)

(Amendment No. 3)*

DeVry Education Group
Inc.

(Name of Issuer)

Common Stock, par value $0.01
(Title of Class of
Securities)

251893103
(CUSIP Number)

Shanda Scibilia
International Value Advisers, LLC

717 Fifth Avenue, 10th Floor
New York, NY 10022

(212) 584-3570
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)

November 3, 2016
(Date of Event Which Requires
Filing of This Statement)

     If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is
the subject of this Schedule 13D, and is filing this schedule because of Rule
13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box
[   ]

Note. Schedules filed in paper format shall include a
signed original and five copies of the schedule, including all exhibits. See
§ 240.13d -7 for other parties to whom copies are to be sent.

*

The remainder of this cover page shall be filled out for
a reporting persons initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover
page.

     The information required on the
remainder of this cover page shall not be deemed to be filed for the purpose
of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise
subject to the liabilities of that section of the Act but shall be subject to
all other provisions of the Act (however, see the Notes.)

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