Rhumbline Advisers Grows Position in Perdoceo Education Co. (NASDAQ:PRDO)

Rhumbline Advisers boosted its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 207,644 shares of the company’s stock after buying an additional 1,511 shares during the period. Rhumbline Advisers owned approximately 0.32% of Perdoceo Education worth $4,448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of Perdoceo Education by 650.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after acquiring an additional 1,633 shares during the period. Innealta Capital LLC acquired a new stake in Perdoceo Education in the 2nd quarter valued at approximately $74,000. nVerses Capital LLC purchased a new stake in Perdoceo Education in the second quarter valued at approximately $92,000. Banque Cantonale Vaudoise lifted its stake in Perdoceo Education by 9.9% during the first quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock worth $110,000 after purchasing an additional 565 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Perdoceo Education during the second quarter worth $155,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Gregory L. Jackson sold 26,664 shares of Perdoceo Education stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total value of $605,272.80. Following the completion of the transaction, the chairman now owns 58,644 shares in the company, valued at approximately $1,331,218.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Gregory L. Jackson sold 26,664 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $22.70, for a total value of $605,272.80. Following the sale, the chairman now owns 58,644 shares of the company’s stock, valued at $1,331,218.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William Dean Hansen sold 13,185 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total transaction of $303,386.85. Following the transaction, the director now owns 39,016 shares of the company’s stock, valued at approximately $897,758.16. The disclosure for this sale can be found here. Insiders have sold a total of 46,325 shares of company stock worth $1,044,656 in the last quarter. 1.81% of the stock is owned by company insiders.

Perdoceo Education Stock Performance

Shares of PRDO opened at $22.17 on Monday. The company’s 50-day simple moving average is $22.72 and its 200-day simple moving average is $20.98. Perdoceo Education Co. has a 1 year low of $16.12 and a 1 year high of $26.40. The stock has a market capitalization of $1.45 billion, a PE ratio of 9.77, a P/E/G ratio of 0.65 and a beta of 1.03.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $166.74 million for the quarter, compared to analyst estimates of $160.91 million. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. On average, sell-side analysts predict that Perdoceo Education Co. will post 2.19 earnings per share for the current year.

Perdoceo Education Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Sunday, September 1st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.35%. This is a boost from Perdoceo Education’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, August 30th. Perdoceo Education’s payout ratio is presently 22.91%.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and issued a $30.00 price objective on shares of Perdoceo Education in a report on Wednesday, August 21st.

Perdoceo Education Company Profile

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.