Kennondale Capital Management LLC Takes $2.56 Million Position in Perdoceo Education Co. (NASDAQ:PRDO)

Kennondale Capital Management LLC acquired a new position in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 96,642 shares of the company's stock, valued at approximately $2,558,000. Perdoceo Education makes up 2.1% of Kennondale Capital Management LLC's holdings, making the stock its 7th largest holding. Kennondale Capital Management LLC owned approximately 0.15% of Perdoceo Education at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings 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 valued at $34,000 after buying an additional 913 shares in the last quarter. R Squared Ltd acquired a new position in shares of Perdoceo Education during the 4th quarter worth about $60,000. KBC Group NV increased its stake in Perdoceo Education by 47.5% during the fourth quarter. KBC Group NV now owns 3,696 shares of the company's stock valued at $98,000 after acquiring an additional 1,190 shares during the period. Parkside Financial Bank & Trust increased its stake in Perdoceo Education by 53.8% during the fourth 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. Finally, Point72 DIFC Ltd bought a new stake in shares of Perdoceo Education in the 3rd quarter valued at approximately $114,000. Institutional investors own 93.46% of the company's stock.

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Perdoceo Education Stock Up 0.4 %

Shares of NASDAQ PRDO traded up $0.10 during mid-day trading on Friday, hitting $24.58. The company had a trading volume of 3,755,491 shares, compared to its average volume of 442,808. The company has a market capitalization of $1.62 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.04. The firm has a 50-day simple moving average of $26.85 and a two-hundred day simple moving average of $25.11. 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.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $176.43 million during the quarter, compared to analysts' expectations of $160.12 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. On average, equities analysts expect that Perdoceo Education Co. will post 2.41 EPS for the current year.

Perdoceo Education Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Saturday, March 1st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. Perdoceo Education's payout ratio is currently 23.64%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PRDO shares. StockNews.com upgraded Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Barrington Research raised their price objective on Perdoceo Education from $32.00 to $35.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th.

Insider Buying and Selling

In related news, SVP Elise Baskel sold 17,818 shares of Perdoceo Education stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $24.16, for a total transaction of $430,482.88. Following the completion of the transaction, the senior vice president now owns 93,354 shares in the company, valued at approximately $2,255,432.64. This trade represents a 16.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd S. Nelson sold 12,472 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $26.29, for a total transaction of $327,888.88. Following the sale, the chief executive officer now owns 615,697 shares of the company's stock, valued at $16,186,674.13. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,438 shares of company stock worth $1,071,669. Company insiders own 1.81% of the company's stock.

About Perdoceo Education

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.