Weiss Asset Management LP Purchases New Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Weiss Asset Management LP acquired a new stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) during the third quarter, Holdings Channel reports. The fund acquired 46,904 shares of the company’s stock, valued at approximately $1,043,000.

Several other hedge funds also recently added to or reduced their stakes in PRDO. Quarry LP lifted its position in shares of Perdoceo Education by 1,306.3% during the second quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after purchasing an additional 1,254 shares during the last quarter. Blue Trust Inc. lifted its holdings in Perdoceo Education by 38.7% during the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock worth $38,000 after buying an additional 492 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Perdoceo Education in the 2nd quarter worth approximately $39,000. Fifth Third Bancorp increased its holdings in shares of Perdoceo Education by 650.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after acquiring an additional 1,633 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Perdoceo Education during the 2nd quarter valued at approximately $74,000. 93.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Sunday. Barrington Research lifted their price target on shares of Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th.

Insiders Place Their Bets

In other Perdoceo Education news, Director Patrick W. Gross sold 3,400 shares of the business’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 owns 69,635 shares in the company, valued at approximately $1,862,039.90. The trade was a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michele A. Peppers sold 6,476 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value of $135,996.00. Following the transaction, the insider now directly owns 61,952 shares in the company, valued at $1,300,992. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,450 shares of company stock worth $1,036,206. Insiders own 1.81% of the company’s stock.

Perdoceo Education Trading Down 1.3 %

NASDAQ:PRDO opened at $26.88 on Monday. The firm has a market capitalization of $1.77 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.80 and a beta of 1.07. Perdoceo Education Co. has a 52 week low of $16.12 and a 52 week high of $29.47. The stock has a 50 day moving average of $23.87 and a 200-day moving average of $22.84.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm had revenue of $169.83 million for the quarter, compared to analyst estimates 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 for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. As a group, analysts predict that Perdoceo Education Co. will post 2.27 EPS for the current fiscal year.

Perdoceo Education Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, December 2nd. Perdoceo Education’s payout ratio is 26.13%.

Perdoceo Education 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.