Gallacher Capital Management LLC Boosts Stock Position in Perdoceo Education Co. (NASDAQ:PRDO)

Gallacher Capital Management LLC raised its position in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 48.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,496 shares of the company’s stock after buying an additional 14,892 shares during the quarter. Gallacher Capital Management LLC owned about 0.07% of Perdoceo Education worth $975,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PRDO. Rhumbline Advisers raised its stake in shares of Perdoceo Education by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 207,644 shares of the company’s stock worth $4,448,000 after acquiring an additional 1,511 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Perdoceo Education during the second quarter worth $92,000. Picton Mahoney Asset Management purchased a new stake in shares of Perdoceo Education during the 2nd quarter valued at $155,000. Innealta Capital LLC purchased a new stake in shares of Perdoceo Education during the 2nd quarter valued at $74,000. Finally, Louisiana State Employees Retirement System boosted its position in shares of Perdoceo Education by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the company’s stock worth $707,000 after purchasing an additional 500 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.

Perdoceo Education Stock Down 2.1 %

PRDO stock opened at $21.33 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.68 and a beta of 1.03. Perdoceo Education Co. has a 52 week low of $15.94 and a 52 week high of $26.40. The firm has a 50 day moving average of $22.68 and a 200 day moving average of $20.81.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, topping 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 business had revenue of $166.74 million during the quarter, compared to the consensus estimate of $160.91 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. On average, equities research analysts expect that Perdoceo Education Co. will post 2.19 earnings per share for the current year.

Perdoceo Education Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Sunday, September 1st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from Perdoceo Education’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.44%. Perdoceo Education’s dividend payout ratio is currently 22.91%.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of Perdoceo Education in a research report on Wednesday, August 21st.

Insider Transactions at Perdoceo Education

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 stock was sold at an average price of $22.70, for a total value of $605,272.80. Following the sale, the chairman now owns 58,644 shares in the company, valued at $1,331,218.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Perdoceo Education news, Director William Dean Hansen sold 13,185 shares of Perdoceo Education stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total transaction of $303,386.85. Following the completion of the transaction, the director now owns 39,016 shares in the company, valued at approximately $897,758.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gregory L. Jackson sold 26,664 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $22.70, for a total value of $605,272.80. Following the completion of the transaction, the chairman now directly owns 58,644 shares of the company’s stock, valued at approximately $1,331,218.80. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.

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.