Callodine Capital Management LP Sells 75,000 Shares of Perdoceo Education Corporation $PRDO

Key Points

• Callodine Capital Management LP reduced its stake in Perdoceo Education Corporation by 13.5%, selling 75,000 shares, bringing its total holdings to 481,245 shares.
• The company recently increased its quarterly dividend to $0.15 per share, reflecting a positive change from its previous dividend of $0.13.
• Perdoceo Education reported earnings of $0.67 per share for the last quarter, exceeding analysts' estimates and showcasing a revenue increase of 25.7% compared to the previous year.

Callodine Capital Management LP lessened its holdings in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 13.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 481,245 shares of the company's stock after selling 75,000 shares during the period. Perdoceo Education accounts for 2.0% of Callodine Capital Management LP's holdings, making the stock its 19th biggest holding. Callodine Capital Management LP owned about 0.73% of Perdoceo Education worth $12,118,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc acquired a new position in shares of Perdoceo Education during the first quarter worth $25,000. Quarry LP lifted its holdings in shares of Perdoceo Education by 223.6% during the fourth quarter. Quarry LP now owns 1,793 shares of the company's stock worth $47,000 after purchasing an additional 1,239 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Perdoceo Education by 31.7% during the fourth quarter. Point72 Asset Management L.P. now owns 7,900 shares of the company's stock worth $209,000 after purchasing an additional 1,900 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Perdoceo Education during the first quarter worth $206,000. Finally, AlphaQuest LLC lifted its holdings in shares of Perdoceo Education by 4.7% during the first quarter. AlphaQuest LLC now owns 8,976 shares of the company's stock worth $226,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 93.46% of the company's stock.

Perdoceo Education Trading Down 0.3%

PRDO stock traded down $0.11 during midday trading on Monday, hitting $32.74. The stock had a trading volume of 520,602 shares, compared to its average volume of 748,071. The firm has a market cap of $2.13 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91. The company has a current ratio of 4.27, a quick ratio of 4.26 and a debt-to-equity ratio of 0.01. Perdoceo Education Corporation has a 1-year low of $20.55 and a 1-year high of $34.60. The business has a fifty day moving average price of $30.90 and a two-hundred day moving average price of $29.00.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. Perdoceo Education had a net margin of 20.09% and a return on equity of 17.13%. The firm had revenue of $209.58 million during the quarter, compared to the consensus estimate of $206.92 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The business's revenue was up 25.7% compared to the same quarter last year. Perdoceo Education has set its Q3 2025 guidance at 0.600-0.620 EPS. FY 2025 guidance at 2.480-2.550 EPS. On average, sell-side analysts predict that Perdoceo Education Corporation will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.8%. This is an increase from Perdoceo Education's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, September 2nd. Perdoceo Education's payout ratio is presently 25.97%.

Wall Street Analyst Weigh In

PRDO has been the topic of several recent analyst reports. Barrington Research restated an "outperform" rating and issued a $40.00 target price on shares of Perdoceo Education in a report on Friday, August 1st. Wall Street Zen lowered shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Perdoceo Education currently has an average rating of "Buy" and an average price target of $40.00.

Insider Transactions at Perdoceo Education

In other Perdoceo Education news, Chairman Gregory L. Jackson sold 4,568 shares of Perdoceo Education stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $32.50, for a total value of $148,460.00. Following the completion of the sale, the chairman directly owned 60,962 shares of the company's stock, valued at approximately $1,981,265. The trade was a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Greg E. Jansen sold 30,234 shares of Perdoceo Education stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $33.00, for a total transaction of $997,722.00. Following the completion of the sale, the senior vice president directly owned 96,279 shares of the company's stock, valued at approximately $3,177,207. This trade represents a 23.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,584 shares of company stock valued at $6,760,254. 2.11% of the stock is owned by insiders.

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.