Brandywine Global Investment Management LLC Sells 10,009 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Brandywine Global Investment Management LLC reduced its stake in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,637 shares of the company's stock after selling 10,009 shares during the period. Brandywine Global Investment Management LLC owned 0.34% of Perdoceo Education worth $5,840,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Investments Inc boosted its stake in Perdoceo Education by 3.6% during the 4th quarter. Atria Investments Inc now owns 10,886 shares of the company's stock valued at $288,000 after purchasing an additional 375 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Perdoceo Education by 227.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company's stock worth $34,000 after buying an additional 913 shares during the period. Swiss National Bank boosted its position in shares of Perdoceo Education by 0.8% during the fourth quarter. Swiss National Bank now owns 122,700 shares of the company's stock worth $3,248,000 after buying an additional 1,000 shares during the period. KBC Group NV grew its holdings in Perdoceo Education by 47.5% in the 4th quarter. KBC Group NV now owns 3,696 shares of the company's stock worth $98,000 after buying an additional 1,190 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Perdoceo Education by 53.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,875 shares of the company's stock valued at $103,000 after acquiring an additional 1,355 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

PRDO has been the subject of several recent analyst reports. StockNews.com raised Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Barrington Research increased their target price on shares of Perdoceo Education from $32.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th.

Perdoceo Education Price Performance

NASDAQ:PRDO traded down $0.44 during midday trading on Friday, hitting $25.49. 948,731 shares of the stock were exchanged, compared to its average volume of 477,893. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 0.75 and a beta of 0.87. The company has a current ratio of 4.84, a quick ratio of 5.45 and a debt-to-equity ratio of 0.01. Perdoceo Education Co. has a one year low of $16.56 and a one year high of $29.84. The business has a 50-day moving average price of $26.47 and a two-hundred day moving average price of $25.43.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. The company had revenue of $176.43 million for the quarter, compared to the consensus estimate of $160.12 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. Sell-side analysts predict that Perdoceo Education Co. will post 2.41 EPS for the current year.

Perdoceo Education Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Saturday, March 1st were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.04%. Perdoceo Education's payout ratio is currently 23.64%.

Insider Activity

In related news, CEO Todd S. Nelson sold 38,984 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $24.66, for a total value of $961,345.44. Following the completion of the sale, the chief executive officer now directly owns 644,047 shares of the company's stock, valued at approximately $15,882,199.02. This represents a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ashish R. Ghia sold 6,236 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $25.00, for a total value of $155,900.00. Following the completion of the transaction, the chief financial officer now owns 252,130 shares in the company, valued at $6,303,250. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,839 shares of company stock worth $3,087,966. Insiders own 1.81% of the company's stock.

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.