Private Management Group Inc. Sells 45,350 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Private Management Group Inc. reduced its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 499,508 shares of the company’s stock after selling 45,350 shares during the period. Private Management Group Inc.’s holdings in Perdoceo Education were worth $13,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PRDO. Blue Trust Inc. boosted its holdings in shares of Perdoceo Education by 38.7% during the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock valued at $38,000 after acquiring an additional 492 shares during the last quarter. R Squared Ltd bought a new position in Perdoceo Education during the fourth quarter valued at approximately $60,000. KBC Group NV boosted its holdings in Perdoceo Education by 47.5% in the fourth quarter. KBC Group NV now owns 3,696 shares of the company’s stock worth $98,000 after purchasing an additional 1,190 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Perdoceo Education in the 3rd quarter worth approximately $114,000. Finally, Point72 Asset Management L.P. purchased a new stake in Perdoceo Education during the 3rd quarter valued at $133,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Perdoceo Education news, SVP John Robert Kline sold 30,574 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $26.47, for a total transaction of $809,293.78. Following the sale, the senior vice president now owns 130,405 shares in the company, valued at approximately $3,451,820.35. This trade represents a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd S. Nelson sold 12,472 shares of Perdoceo Education 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 $16,186,674.13. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,594 shares of company stock valued at $1,541,396 in the last ninety days. Corporate insiders own 1.81% of the company’s stock.

Perdoceo Education Trading Up 0.7 %

PRDO opened at $29.15 on Thursday. The company’s 50 day moving average is $27.18 and its 200 day moving average is $24.42. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.81 and a beta of 1.06. Perdoceo Education Co. has a 12-month low of $16.12 and a 12-month high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The firm had revenue of $169.83 million during the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts predict that Perdoceo Education Co. will post 2.27 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Saturday, March 1st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, February 28th. Perdoceo Education’s dividend payout ratio (DPR) is currently 26.13%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PRDO. StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Barrington Research increased their target price on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th.

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.