Point72 Asia Singapore Pte. Ltd. Makes New Investment in Perdoceo Education Co. (NASDAQ:PRDO)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,268 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors have also recently made changes to their positions in PRDO. Verition Fund Management LLC boosted its holdings in Perdoceo Education by 183.0% in the third quarter. Verition Fund Management LLC now owns 27,122 shares of the company’s stock worth $603,000 after acquiring an additional 17,538 shares in the last quarter. Intech Investment Management LLC boosted its stake in Perdoceo Education by 220.8% in the 3rd quarter. Intech Investment Management LLC now owns 56,839 shares of the company’s stock worth $1,264,000 after purchasing an additional 39,121 shares in the last quarter. Jennison Associates LLC grew its position in Perdoceo Education by 23.8% during the 3rd quarter. Jennison Associates LLC now owns 53,170 shares of the company’s stock worth $1,183,000 after purchasing an additional 10,231 shares during the last quarter. Banque Cantonale Vaudoise increased its stake in Perdoceo Education by 59.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 10,606 shares of the company’s stock valued at $236,000 after purchasing an additional 3,966 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Perdoceo Education by 1,107.5% in the third quarter. Quest Partners LLC now owns 22,012 shares of the company’s stock worth $490,000 after buying an additional 20,189 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRDO. StockNews.com lowered shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a report on Saturday. Barrington Research boosted their price target on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th.

Insider Transactions at Perdoceo Education

In related news, Director Patrick W. Gross sold 3,400 shares of Perdoceo Education stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the sale, the director now directly owns 69,635 shares in the company, valued at approximately $1,862,039.90. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John Robert Kline sold 30,574 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $26.47, for a total value of $809,293.78. Following the sale, the senior vice president now owns 130,405 shares of the company’s stock, valued at approximately $3,451,820.35. This trade represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,450 shares of company stock valued at $1,036,206 in the last ninety days. 1.81% of the stock is currently owned by corporate insiders.

Perdoceo Education Trading Down 1.7 %

Shares of NASDAQ PRDO opened at $27.34 on Wednesday. The company has a 50 day simple moving average of $23.56 and a two-hundred day simple moving average of $22.75. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.82 and a beta of 1.07. Perdoceo Education Co. has a 12 month low of $16.12 and a 12 month high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The firm had revenue of $169.83 million for the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. Analysts forecast that Perdoceo Education Co. will post 2.27 EPS for the current year.

Perdoceo Education Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.90%. Perdoceo Education’s dividend payout ratio (DPR) is currently 26.13%.

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.