Callodine Capital Management LP Boosts Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Callodine Capital Management LP raised its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 20.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 556,245 shares of the company’s stock after purchasing an additional 95,036 shares during the quarter. Perdoceo Education accounts for about 3.0% of Callodine Capital Management LP’s portfolio, making the stock its 12th largest position. Callodine Capital Management LP’s holdings in Perdoceo Education were worth $14,724,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in shares of Perdoceo Education by 227.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company’s stock worth $34,000 after acquiring an additional 913 shares during the last quarter. R Squared Ltd purchased a new stake in Perdoceo Education in the fourth quarter worth $60,000. KBC Group NV lifted its position in shares of Perdoceo Education by 47.5% during 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. Parkside Financial Bank & Trust boosted its stake in shares of Perdoceo Education by 53.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,875 shares of the company’s stock valued at $103,000 after purchasing an additional 1,355 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Perdoceo Education during the fourth quarter valued at $172,000. Institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barrington Research raised their price target on shares of Perdoceo Education from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th.

Insider Activity

In other news, CEO Todd S. Nelson sold 38,984 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $24.66, for a total value of $961,345.44. Following the completion of the transaction, the chief executive officer now directly owns 644,047 shares of the company’s stock, valued at approximately $15,882,199.02. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Elise Baskel sold 17,818 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $24.16, for a total value of $430,482.88. Following the sale, the senior vice president now directly owns 93,354 shares in the company, valued at approximately $2,255,432.64. The trade was a 16.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,691 shares of company stock worth $2,774,669. Corporate insiders own 1.81% of the company’s stock.

Perdoceo Education Trading Down 2.3 %

Shares of NASDAQ PRDO opened at $25.27 on Friday. Perdoceo Education Co. has a twelve month low of $16.79 and a twelve month high of $29.84. The company has a quick ratio of 5.45, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $25.83 and a two-hundred day simple moving average of $25.63. The firm has a market cap of $1.67 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.75 and a beta of 0.87.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. The firm had revenue of $176.43 million during the quarter, compared to the consensus estimate of $160.12 million. Analysts expect that Perdoceo Education Co. will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Saturday, March 1st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.06%. Perdoceo Education’s dividend payout ratio is presently 23.64%.

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.