Weiss Asset Management LP Makes New $1.04 Million Investment in Perdoceo Education Co. (NASDAQ:PRDO)

Weiss Asset Management LP acquired a new stake in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 46,904 shares of the company's stock, valued at approximately $1,043,000. Weiss Asset Management LP owned approximately 0.07% of Perdoceo Education at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd acquired a new position in Perdoceo Education during the 3rd quarter worth approximately $114,000. Point72 Asset Management L.P. acquired a new position in Perdoceo Education during the 3rd quarter worth approximately $133,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Perdoceo Education during the 3rd quarter worth approximately $228,000. Verition Fund Management LLC lifted its position in Perdoceo Education by 183.0% during the 3rd quarter. Verition Fund Management LLC now owns 27,122 shares of the company's stock worth $603,000 after acquiring an additional 17,538 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in Perdoceo Education by 220.8% during the 3rd quarter. Intech Investment Management LLC now owns 56,839 shares of the company's stock worth $1,264,000 after acquiring an additional 39,121 shares in the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Perdoceo Education Stock Performance

Shares of NASDAQ PRDO traded down $0.02 during trading on Monday, reaching $26.86. The stock had a trading volume of 289,337 shares, compared to its average volume of 461,395. Perdoceo Education Co. has a one year low of $16.12 and a one year high of $29.47. The stock has a market cap of $1.77 billion, a PE ratio of 13.47, a P/E/G ratio of 0.79 and a beta of 1.07. The firm's 50 day moving average price is $23.87 and its two-hundred day moving average price is $22.84.

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

Perdoceo Education Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.94%. Perdoceo Education's payout ratio is currently 26.13%.

Insider Buying and Selling

In related news, Director Patrick W. Gross sold 3,400 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.74, for a total transaction of $90,916.00. Following the completion of the transaction, the director now directly owns 69,635 shares in the company, valued at $1,862,039.90. This represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Robert Kline sold 30,574 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $26.47, for a total value of $809,293.78. Following the transaction, the senior vice president now owns 130,405 shares of the company's stock, valued at approximately $3,451,820.35. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,450 shares of company stock worth $1,036,206 in the last three months. 1.81% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barrington Research upped their target price on Perdoceo Education from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. StockNews.com raised Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research report on Sunday.

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.