Exchange Traded Concepts LLC Has $5.50 Million Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Exchange Traded Concepts LLC increased its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,635 shares of the company’s stock after purchasing an additional 6,265 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Perdoceo Education were worth $5,496,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Perdoceo Education by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,391 shares of the company’s stock valued at $40,114,000 after purchasing an additional 33,092 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Perdoceo Education by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 582,180 shares of the company’s stock worth $12,948,000 after buying an additional 16,720 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Perdoceo Education by 1.2% during the 3rd quarter. Empowered Funds LLC now owns 485,552 shares of the company’s stock worth $10,799,000 after acquiring an additional 5,571 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Perdoceo Education during the 3rd quarter valued at about $9,374,000. Finally, Franklin Resources Inc. raised its stake in shares of Perdoceo Education by 9.6% in the 3rd quarter. Franklin Resources Inc. now owns 278,091 shares of the company’s stock valued at $5,954,000 after acquiring an additional 24,434 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Perdoceo Education

In other news, CEO Todd S. Nelson sold 12,472 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $26.29, for a total transaction of $327,888.88. Following the transaction, the chief executive officer now directly owns 615,697 shares in the company, valued at approximately $16,186,674.13. This represents a 1.99 % 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. 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 directly owns 130,405 shares in the company, valued at approximately $3,451,820.35. This represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,594 shares of company stock valued at $1,541,396 in the last three months. Corporate insiders own 1.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PRDO. StockNews.com cut shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 16th. Barrington Research boosted their target price on shares of Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

Perdoceo Education Trading Up 0.7 %

Shares of NASDAQ PRDO opened at $28.31 on Friday. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.79 and a beta of 1.06. Perdoceo Education Co. has a one year low of $16.12 and a one year high of $29.47. The business has a fifty day simple moving average of $26.93 and a 200 day simple moving average of $24.04.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data 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 company had revenue of $169.83 million for 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 company’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 earnings per share. On average, research analysts anticipate that Perdoceo Education Co. will post 2.27 earnings per share for the current fiscal year.

Perdoceo Education Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.84%. Perdoceo Education’s dividend payout ratio (DPR) is presently 26.13%.

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.