Point72 Asset Management L.P. Takes Position in Perdoceo Education Co. (NASDAQ:PRDO)

Point72 Asset Management L.P. acquired a new position in Perdoceo Education Co. (NASDAQ:PRDO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,000 shares of the company’s stock, valued at approximately $133,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PRDO. SG Americas Securities LLC bought a new position in shares of Perdoceo Education in the 2nd quarter worth $954,000. Victory Capital Management Inc. increased its stake in Perdoceo Education by 71.3% in the third quarter. Victory Capital Management Inc. now owns 73,819 shares of the company’s stock valued at $1,642,000 after acquiring an additional 30,725 shares during the last quarter. Renaissance Technologies LLC raised its position in Perdoceo Education by 2.5% during the second quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock valued at $96,512,000 after purchasing an additional 107,918 shares in the last quarter. Quest Partners LLC raised its position in Perdoceo Education by 1,107.5% during the third quarter. Quest Partners LLC now owns 22,012 shares of the company’s stock valued at $490,000 after purchasing an additional 20,189 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Perdoceo Education by 3.9% during the second quarter. LSV Asset Management now owns 2,010,254 shares of the company’s stock worth $43,060,000 after purchasing an additional 75,293 shares during the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Perdoceo Education Stock Up 0.1 %

Perdoceo Education stock opened at $27.35 on Friday. The firm has a fifty day simple moving average of $24.45 and a two-hundred day simple moving average of $22.98. Perdoceo Education Co. has a twelve month low of $16.12 and a twelve month high of $29.47. The company has a market capitalization of $1.80 billion, a PE ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 1.07.

Perdoceo Education (NASDAQ:PRDO) last released its 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. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The company had revenue of $169.83 million during the quarter, compared to analyst estimates of $164.60 million. During the same quarter in the previous year, the company posted $0.64 EPS. Perdoceo Education’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts expect that Perdoceo Education Co. will post 2.27 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, December 2nd. Perdoceo Education’s dividend payout ratio is 26.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barrington Research increased their price objective 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 upgraded shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 8th.

Insider Buying and Selling

In other news, SVP John Robert Kline sold 30,574 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $26.47, for a total transaction of $809,293.78. Following the completion of the transaction, the senior vice president now directly owns 130,405 shares of the company’s stock, valued at approximately $3,451,820.35. This represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick W. Gross sold 3,400 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the completion of the sale, the director now directly owns 69,635 shares in the company, valued at $1,862,039.90. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.81% of the stock is owned by insiders.

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.