Exchange Traded Concepts LLC Has $4.48 Million Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Exchange Traded Concepts LLC lowered its position in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,370 shares of the company’s stock after selling 15,518 shares during the period. Exchange Traded Concepts LLC owned 0.31% of Perdoceo Education worth $4,478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Perdoceo Education by 1,306.3% during the second quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after buying an additional 1,254 shares in the last quarter. Quest Partners LLC bought a new position in Perdoceo Education during the second quarter worth about $39,000. Fifth Third Bancorp raised its stake in Perdoceo Education by 650.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after purchasing an additional 1,633 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter worth approximately $74,000. Finally, nVerses Capital LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter worth approximately $92,000. 93.46% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Gregory L. Jackson sold 26,664 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total transaction of $605,272.80. Following the completion of the sale, the chairman now directly owns 58,644 shares in the company, valued at $1,331,218.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Gregory L. Jackson sold 26,664 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $22.70, for a total transaction of $605,272.80. Following the completion of the transaction, the chairman now directly owns 58,644 shares in the company, valued at $1,331,218.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michele A. Peppers sold 6,476 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares in the company, valued at $1,300,992. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,325 shares of company stock worth $1,044,656. Insiders own 1.81% of the company’s stock.

Perdoceo Education Stock Performance

Shares of NASDAQ PRDO opened at $21.09 on Monday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 9.29, a PEG ratio of 0.65 and a beta of 1.04. The stock’s fifty day moving average is $22.07 and its 200 day moving average is $21.55. Perdoceo Education Co. has a 52 week low of $16.12 and a 52 week high of $26.40.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The firm had revenue of $166.74 million for the quarter, compared to analyst estimates of $160.91 million. During the same period last year, the firm earned $0.61 EPS. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities research analysts forecast that Perdoceo Education Co. will post 2.19 earnings per share for the current year.

Perdoceo Education Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Sunday, September 1st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.11. Perdoceo Education’s dividend payout ratio (DPR) is currently 22.91%.

Analyst Ratings Changes

Separately, Barrington Research reiterated an “outperform” rating and issued a $30.00 price target on shares of Perdoceo Education in a research note on Friday, September 20th.

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.