Point72 Asset Management L.P. Invests $133,000 in Perdoceo Education Co. (NASDAQ:PRDO)

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

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

Insider Transactions at Perdoceo Education

In other news, SVP John Robert Kline sold 30,574 shares of the firm’s stock in a transaction 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 directly owns 130,405 shares in the company, valued at $3,451,820.35. This trade represents a 18.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick W. Gross sold 3,400 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.74, for a total value of $90,916.00. Following the sale, the director now directly owns 69,635 shares in the company, valued at approximately $1,862,039.90. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.

Perdoceo Education Trading Up 0.1 %

Perdoceo Education stock opened at $27.35 on Friday. Perdoceo Education Co. has a 12 month low of $16.12 and a 12 month high of $29.47. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.81 and a beta of 1.07. The business’s fifty day simple moving average is $24.45 and its two-hundred day simple moving average is $22.98.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The company had revenue of $169.83 million for the quarter, compared to analysts’ expectations of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. Perdoceo Education’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. On average, equities research analysts predict that Perdoceo Education Co. will post 2.27 EPS for the current year.

Perdoceo Education Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid 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 currently 26.13%.

Analyst Upgrades and Downgrades

PRDO has been the topic of a number of recent research reports. Barrington Research upped 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. StockNews.com upgraded shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 8th.

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.