Los Angeles Capital Management LLC Trims Stock Position in Perdoceo Education Co. (NASDAQ:PRDO)

Los Angeles Capital Management LLC cut its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 65.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,871 shares of the company’s stock after selling 34,556 shares during the period. Los Angeles Capital Management LLC’s holdings in Perdoceo Education were worth $473,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Perdoceo Education in the 4th quarter valued at $60,000. KBC Group NV lifted its position in Perdoceo Education by 47.5% in the fourth quarter. KBC Group NV now owns 3,696 shares of the company’s stock valued at $98,000 after buying an additional 1,190 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Perdoceo Education during the third quarter worth about $114,000. Point72 Asset Management L.P. purchased a new position in Perdoceo Education during the third quarter worth about $133,000. Finally, Farther Finance Advisors LLC increased its position 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 valued at $140,000 after acquiring an additional 6,099 shares during the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Perdoceo Education

In related news, SVP John Robert Kline sold 12,148 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $25.79, for a total transaction of $313,296.92. Following the sale, the senior vice president now directly owns 130,405 shares in the company, valued at approximately $3,363,144.95. This represents a 8.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd S. Nelson sold 12,472 shares of Perdoceo Education stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $26.29, for a total transaction of $327,888.88. Following the completion of the transaction, the chief executive officer now owns 615,697 shares of the company’s stock, valued at $16,186,674.13. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. 1.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Perdoceo Education Stock Performance

NASDAQ PRDO opened at $25.64 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 5.45. The company has a market cap of $1.69 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.75 and a beta of 1.07. The stock has a 50-day moving average of $27.23 and a two-hundred day moving average of $24.92. Perdoceo Education Co. has a 1-year low of $16.56 and a 1-year high of $29.84.

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

Perdoceo Education Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Saturday, March 1st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, February 28th. Perdoceo Education’s payout ratio is currently 23.64%.

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.