Formula Growth Ltd. Raises Stock Position in Perdoceo Education Co. (NASDAQ:PRDO)

Formula Growth Ltd. grew its position in Perdoceo Education Co. (NASDAQ:PRDO) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,066 shares of the company’s stock after acquiring an additional 8,066 shares during the quarter. Formula Growth Ltd. owned about 0.11% of Perdoceo Education worth $1,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in Perdoceo Education by 227.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company’s stock valued at $34,000 after buying an additional 913 shares in the last quarter. R Squared Ltd purchased a new stake in Perdoceo Education during the fourth quarter worth about $60,000. KBC Group NV lifted its holdings in Perdoceo Education by 47.5% during the 4th quarter. KBC Group NV now owns 3,696 shares of the company’s stock worth $98,000 after buying an additional 1,190 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Perdoceo Education by 53.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,875 shares of the company’s stock valued at $103,000 after acquiring an additional 1,355 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Perdoceo Education in the 4th quarter valued at about $172,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Perdoceo Education Stock Performance

NASDAQ:PRDO opened at $25.27 on Friday. Perdoceo Education Co. has a 1-year low of $16.99 and a 1-year high of $29.84. 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 firm’s fifty day moving average price is $25.77 and its 200 day moving average price is $25.66. The firm has a market cap of $1.67 billion, a price-to-earnings 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 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Perdoceo Education had a net margin of 21.66% and a return on equity of 16.85%. The firm had revenue of $176.43 million for the quarter, compared to the consensus estimate of $160.12 million. On average, sell-side analysts expect that Perdoceo Education Co. will post 2.41 EPS for the current year.

Perdoceo Education Dividend Announcement

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

Insider Buying and Selling at Perdoceo Education

In other Perdoceo Education news, SVP Elise Baskel sold 17,818 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.16, for a total value of $430,482.88. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ashish R. Ghia sold 35,677 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $25.83, for a total value of $921,536.91. Following the sale, the chief financial officer now owns 204,477 shares in the company, valued at $5,281,640.91. This trade represents a 14.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,691 shares of company stock worth $2,774,669. 1.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PRDO shares. Barrington Research raised their price objective on shares of Perdoceo Education from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 11th.

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.