Assenagon Asset Management S.A. Reduces Position in Perdoceo Education Co. (NASDAQ:PRDO)

Assenagon Asset Management S.A. reduced its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 23.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,103 shares of the company's stock after selling 39,561 shares during the quarter. Assenagon Asset Management S.A. owned 0.20% of Perdoceo Education worth $2,893,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PRDO. Quarry LP boosted its holdings in shares of Perdoceo Education by 1,306.3% during the second quarter. Quarry LP now owns 1,350 shares of the company's stock worth $29,000 after purchasing an additional 1,254 shares during the period. Blue Trust Inc. boosted its holdings in shares of Perdoceo Education by 38.7% during the third quarter. Blue Trust Inc. now owns 1,762 shares of the company's stock worth $38,000 after purchasing an additional 492 shares during the period. Quest Partners LLC purchased a new stake in shares of Perdoceo Education during the second quarter worth about $39,000. Fifth Third Bancorp boosted its holdings 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 during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Perdoceo Education during the second quarter worth about $74,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Perdoceo Education Price Performance

PRDO traded up $0.03 on Thursday, hitting $22.40. The company had a trading volume of 202,032 shares, compared to its average volume of 463,190. Perdoceo Education Co. has a 52-week low of $16.12 and a 52-week high of $26.40. The stock has a fifty day simple moving average of $21.74 and a 200-day simple moving average of $21.88. The firm has a market capitalization of $1.47 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.65 and a beta of 1.04.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The business had revenue of $166.74 million during the quarter, compared to analyst estimates of $160.91 million. During the same period last year, the business posted $0.61 earnings per share. Perdoceo Education's quarterly revenue was down 10.6% compared to the same quarter last year. Equities research analysts expect that Perdoceo Education Co. will post 2.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the transaction, the insider now owns 61,952 shares of the company's stock, valued at approximately $1,300,992. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Michele A. Peppers sold 6,476 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares of the company's stock, valued at $1,300,992. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $605,272.80. Following the sale, the chairman now directly owns 58,644 shares of the company's stock, valued at $1,331,218.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,325 shares of company stock worth $1,044,656 over the last three months. Company insiders own 1.81% of the company's stock.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an "outperform" rating and set a $30.00 target price on shares of Perdoceo Education in a report on Friday, September 20th.

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.