Pacer Advisors Inc. Cuts Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Pacer Advisors Inc. lessened its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 19.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,137,230 shares of the company’s stock after selling 512,893 shares during the quarter. Pacer Advisors Inc.’s holdings in Perdoceo Education were worth $47,532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRDO. Vanguard Group Inc. increased its holdings in shares of Perdoceo Education by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock valued at $103,538,000 after acquiring an additional 45,259 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Perdoceo Education in the second quarter valued at $2,570,000. SG Americas Securities LLC purchased a new position in Perdoceo Education during the second quarter valued at approximately $954,000. Boston Partners increased its holdings in shares of Perdoceo Education by 979.2% during the 1st quarter. Boston Partners now owns 750,979 shares of the company’s stock valued at $13,376,000 after purchasing an additional 681,391 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Perdoceo Education by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock valued at $96,512,000 after acquiring an additional 107,918 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Perdoceo Education Price Performance

Shares of NASDAQ PRDO opened at $26.82 on Friday. Perdoceo Education Co. has a 1 year low of $16.12 and a 1 year high of $29.47. The business has a 50-day moving average of $22.69 and a two-hundred day moving average of $22.56. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.78 and a beta of 1.04.

Perdoceo Education (NASDAQ:PRDO) last announced 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 business had revenue of $169.83 million during the quarter, compared to the consensus estimate of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, equities research analysts expect that Perdoceo Education Co. will post 2.27 earnings per share for the current year.

Perdoceo Education Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.94%. Perdoceo Education’s payout ratio is 26.13%.

Insider Transactions at Perdoceo Education

In other Perdoceo Education news, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction dated 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 sale, the director now owns 69,635 shares of the company’s stock, valued at approximately $1,862,039.90. The trade was a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $809,293.78. Following the sale, the senior vice president now directly owns 130,405 shares of the company’s stock, valued at approximately $3,451,820.35. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,450 shares of company stock valued at $1,036,206 in the last ninety days. Corporate insiders own 1.81% of the company’s stock.

Analyst Upgrades and Downgrades

PRDO has been the subject of several research analyst reports. StockNews.com downgraded shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Friday. Barrington Research upped their price target on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th.

Perdoceo Education Company 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.