Denali Advisors LLC Sells 60,300 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Denali Advisors LLC reduced its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 26.8% in the 1st quarter, Holdings Channel reports. The firm owned 164,700 shares of the company’s stock after selling 60,300 shares during the quarter. Denali Advisors LLC’s holdings in Perdoceo Education were worth $2,892,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PRDO. LSV Asset Management raised its position in Perdoceo Education by 117.7% during the 4th quarter. LSV Asset Management now owns 1,213,839 shares of the company’s stock worth $21,315,000 after purchasing an additional 656,280 shares during the last quarter. Pacer Advisors Inc. raised its position in Perdoceo Education by 32.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,602,905 shares of the company’s stock worth $28,147,000 after purchasing an additional 395,481 shares during the last quarter. Invesco Ltd. raised its position in Perdoceo Education by 59.0% during the 3rd quarter. Invesco Ltd. now owns 1,028,253 shares of the company’s stock worth $17,583,000 after purchasing an additional 381,665 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Perdoceo Education by 43.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,547 shares of the company’s stock worth $21,380,000 after purchasing an additional 366,202 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Perdoceo Education by 345.1% in the 4th quarter. Panagora Asset Management Inc. now owns 228,664 shares of the company’s stock worth $4,015,000 after acquiring an additional 177,286 shares in the last quarter. 93.46% of the stock is owned by institutional investors.

Insider Activity

In other Perdoceo Education news, CFO Ashish R. Ghia sold 11,412 shares of Perdoceo Education stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $19.00, for a total transaction of $216,828.00. Following the completion of the transaction, the chief financial officer now owns 226,234 shares in the company, valued at approximately $4,298,446. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PRDO has been the subject of several research analyst reports. StockNews.com lowered Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th. Barrington Research lifted their price objective on Perdoceo Education from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd.

Perdoceo Education Stock Performance

Shares of PRDO stock traded up $0.19 during mid-day trading on Wednesday, hitting $21.30. The company’s stock had a trading volume of 168,372 shares, compared to its average volume of 516,965. The company’s fifty day simple moving average is $21.93 and its 200-day simple moving average is $19.12. Perdoceo Education Co. has a 52 week low of $11.88 and a 52 week high of $24.66. The company has a market cap of $1.40 billion, a PE ratio of 9.30, a P/E/G ratio of 0.65 and a beta of 1.02.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Wednesday, May 1st. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.53 by $0.07. The company had revenue of $168.30 million during the quarter, compared to the consensus estimate of $163.30 million. Perdoceo Education had a return on equity of 17.09% and a net margin of 22.35%. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. On average, equities analysts anticipate that Perdoceo Education Co. will post 2.21 earnings per share for the current year.

Perdoceo Education Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.44 annualized dividend and a dividend yield of 2.07%. Perdoceo Education’s dividend payout ratio is presently 19.38%.

Perdoceo Education Company 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.