Los Angeles Capital Management LLC Lowers Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Los Angeles Capital Management LLC trimmed its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 14.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 52,427 shares of the company’s stock after selling 8,846 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Perdoceo Education were worth $1,166,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Atria Investments Inc acquired a new stake in Perdoceo Education during the 3rd quarter worth approximately $234,000. Assetmark Inc. raised its stake in shares of Perdoceo Education by 8.1% during the third quarter. Assetmark Inc. now owns 97,626 shares of the company’s stock worth $2,171,000 after purchasing an additional 7,328 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Perdoceo Education by 3,465.3% during the third quarter. Farther Finance Advisors LLC now owns 6,275 shares of the company’s stock worth $140,000 after purchasing an additional 6,099 shares during the period. Vest Financial LLC grew its position in Perdoceo Education by 26.5% in the 3rd quarter. Vest Financial LLC now owns 66,728 shares of the company’s stock valued at $1,484,000 after buying an additional 13,977 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in 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 buying an additional 492 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

Perdoceo Education Stock Performance

NASDAQ:PRDO opened at $26.30 on Friday. Perdoceo Education Co. has a 1 year low of $16.12 and a 1 year high of $29.47. The stock has a fifty day moving average price of $22.07 and a two-hundred day moving average price of $22.33. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.76 and a beta of 1.04.

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, beating analysts’ consensus estimates 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 15.88%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, analysts predict that Perdoceo Education Co. will post 2.19 EPS for the current year.

Perdoceo Education Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, December 2nd. Perdoceo Education’s dividend payout ratio is currently 26.13%.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total value of $135,996.00. Following the sale, the insider now owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on PRDO. Barrington Research raised their target price on shares of Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Thursday.

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.