Perdoceo Education Co. (NASDAQ:PRDO) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 10.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 36,252 shares of the company’s stock after selling 4,073 shares during the period. HighTower Advisors LLC owned about 0.06% of Perdoceo Education worth $814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRDO. Fifth Third Bancorp lifted its position in shares of Perdoceo Education by 650.6% during the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after purchasing an additional 1,633 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Perdoceo Education by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the company’s stock worth $707,000 after buying an additional 500 shares in the last quarter. Innealta Capital LLC acquired a new stake in Perdoceo Education during the 2nd quarter worth approximately $74,000. Picton Mahoney Asset Management purchased a new position in Perdoceo Education in the 2nd quarter valued at approximately $155,000. Finally, nVerses Capital LLC purchased a new stake in shares of Perdoceo Education during the second quarter worth $92,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PRDO shares. Barrington Research lifted their target price on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 8th.

Insider Transactions at Perdoceo Education

In related news, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.74, for a total value of $90,916.00. Following the completion of the sale, the director now directly owns 69,635 shares of the company’s stock, valued at $1,862,039.90. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Robert Kline sold 30,574 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $26.47, for a total transaction of $809,293.78. Following the completion of the transaction, the senior vice president now owns 130,405 shares of the company’s stock, valued at $3,451,820.35. This represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.

Perdoceo Education Stock Down 4.0 %

NASDAQ PRDO opened at $26.25 on Thursday. Perdoceo Education Co. has a 52 week low of $16.12 and a 52 week high of $29.47. The firm has a 50 day moving average of $24.81 and a two-hundred day moving average of $23.07. The stock has a market capitalization of $1.73 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.81 and a beta of 1.07.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $169.83 million during the quarter, compared to the consensus estimate of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts expect that Perdoceo Education Co. will post 2.27 earnings per share for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.13 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%. Perdoceo Education’s payout ratio is currently 26.13%.

Perdoceo Education 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.