Insider Selling: Perdoceo Education Co. (NASDAQ:PRDO) CEO Sells 12,472 Shares of Stock

Perdoceo Education Co. (NASDAQ:PRDO) CEO Todd S. Nelson sold 12,472 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $26.29, for a total transaction of $327,888.88. Following the transaction, the chief executive officer now owns 615,697 shares in the company, valued at approximately $16,186,674.13. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Perdoceo Education Stock Up 2.7 %

Shares of PRDO opened at $26.38 on Thursday. The company has a market capitalization of $1.73 billion, a PE ratio of 13.26, a P/E/G ratio of 0.81 and a beta of 1.06. Perdoceo Education Co. has a 52-week low of $16.12 and a 52-week high of $29.47. The company has a 50-day simple moving average of $26.30 and a 200-day simple moving average of $23.59.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The company had revenue of $169.83 million during the quarter, compared to analysts’ expectations of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. On average, research analysts anticipate that Perdoceo Education Co. will post 2.27 EPS for the current year.

Perdoceo Education Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.97%. The ex-dividend date was Monday, December 2nd. Perdoceo Education’s dividend payout ratio (DPR) is 26.13%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PRDO shares. Barrington Research boosted their target price on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PRDO. Rhumbline Advisers increased its holdings in Perdoceo Education by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 207,644 shares of the company’s stock valued at $4,448,000 after acquiring an additional 1,511 shares in the last quarter. Gallacher Capital Management LLC increased its stake in shares of Perdoceo Education by 48.7% during the 2nd quarter. Gallacher Capital Management LLC now owns 45,496 shares of the company’s stock worth $975,000 after purchasing an additional 14,892 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter worth approximately $578,000. LSV Asset Management lifted its stake in Perdoceo Education by 3.9% in the 2nd quarter. LSV Asset Management now owns 2,010,254 shares of the company’s stock valued at $43,060,000 after buying an additional 75,293 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Perdoceo Education during the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

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.