Wellington Management Group LLP acquired a new stake in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 421,472 shares of the company's stock, valued at approximately $9,374,000. Wellington Management Group LLP owned 0.64% of Perdoceo Education at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Perdoceo Education during the second quarter valued at $954,000. Assenagon Asset Management S.A. acquired a new position in Perdoceo Education during the 2nd quarter worth about $3,634,000. Fifth Third Bancorp lifted its holdings in Perdoceo Education by 650.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company's stock worth $40,000 after buying an additional 1,633 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Perdoceo Education by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the company's stock valued at $707,000 after buying an additional 500 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Perdoceo Education in the second quarter valued at about $74,000. Institutional investors and hedge funds own 93.46% of the company's stock.
Insiders Place Their Bets
In other news, Director Patrick W. Gross sold 3,400 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.74, for a total transaction of $90,916.00. Following the transaction, the director now owns 69,635 shares of the company's stock, valued at $1,862,039.90. This represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP John Robert Kline sold 30,574 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $26.47, for a total value of $809,293.78. Following the completion of the sale, the senior vice president now directly owns 130,405 shares of the company's stock, valued at $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. Corporate insiders own 1.81% of the company's stock.
Perdoceo Education Stock Up 2.7 %
Perdoceo Education stock traded up $0.73 during trading hours on Monday, reaching $28.08. 390,600 shares of the company's stock were exchanged, compared to its average volume of 459,817. The firm has a market capitalization of $1.85 billion, a PE ratio of 14.11, a PEG ratio of 0.81 and a beta of 1.07. The firm's 50 day simple moving average is $24.59 and its 200 day simple moving average is $23.02. Perdoceo Education Co. has a twelve month low of $16.12 and a twelve month high of $29.47.
Perdoceo Education (NASDAQ:PRDO - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The business had revenue of $169.83 million during the quarter, compared to analysts' expectations of $164.60 million. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The firm's revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. Analysts anticipate that Perdoceo Education Co. will post 2.27 EPS for the current year.
Perdoceo Education Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.85%. The ex-dividend date was Monday, December 2nd. Perdoceo Education's dividend payout ratio is presently 26.13%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on PRDO. StockNews.com upgraded Perdoceo Education from a "buy" rating to a "strong-buy" rating in a report on Sunday, December 8th. Barrington Research upped their price objective on shares of Perdoceo Education from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th.
Read Our Latest Analysis on Perdoceo Education
About Perdoceo Education
(
Free Report)
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.
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