Denali Advisors LLC Lowers Position in Perdoceo Education Corporation (NASDAQ:PRDO)

Denali Advisors LLC lowered its stake in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 186,790 shares of the company's stock after selling 16,310 shares during the quarter. Denali Advisors LLC owned about 0.29% of Perdoceo Education worth $4,703,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PRDO. Castlekeep Investment Advisors LLC acquired a new stake in Perdoceo Education during the 4th quarter worth $47,129,000. Bank of New York Mellon Corp boosted its stake in Perdoceo Education by 58.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,088,105 shares of the company's stock worth $27,398,000 after purchasing an additional 403,157 shares during the period. Millennium Management LLC boosted its stake in Perdoceo Education by 46.1% during the 4th quarter. Millennium Management LLC now owns 871,572 shares of the company's stock worth $23,071,000 after purchasing an additional 275,129 shares during the period. Wellington Management Group LLP increased its stake in Perdoceo Education by 63.0% in the 4th quarter. Wellington Management Group LLP now owns 686,873 shares of the company's stock valued at $18,182,000 after buying an additional 265,401 shares during the period. Finally, First Trust Advisors LP increased its stake in Perdoceo Education by 7.9% in the 4th quarter. First Trust Advisors LP now owns 3,296,208 shares of the company's stock valued at $87,251,000 after buying an additional 241,147 shares during the period. Institutional investors and hedge funds own 93.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PRDO. Barrington Research upped their target price on Perdoceo Education from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Wall Street Zen cut Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.

Perdoceo Education Stock Performance

PRDO traded down $0.06 during midday trading on Friday, reaching $29.65. The company's stock had a trading volume of 1,256,362 shares, compared to its average volume of 503,620. The stock has a market cap of $1.94 billion, a P/E ratio of 13.12, a PEG ratio of 0.79 and a beta of 0.83. The company has a fifty day simple moving average of $31.67 and a 200 day simple moving average of $28.32. The company has a current ratio of 4.46, a quick ratio of 4.43 and a debt-to-equity ratio of 0.01. Perdoceo Education Corporation has a twelve month low of $20.55 and a twelve month high of $34.60.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.04. Perdoceo Education had a net margin of 20.91% and a return on equity of 17.10%. The business had revenue of $213.00 million for the quarter, compared to the consensus estimate of $207.97 million. During the same period last year, the company posted $0.60 EPS. Perdoceo Education's revenue for the quarter was up 26.6% on a year-over-year basis. Research analysts expect that Perdoceo Education Corporation will post 2.41 earnings per share for the current year.

Perdoceo Education Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Sunday, June 1st were paid a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.75%. Perdoceo Education's dividend payout ratio (DPR) is currently 23.01%.

Insider Buying and Selling at Perdoceo Education

In other news, SVP David C. Czeszewski sold 30,892 shares of Perdoceo Education stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $31.66, for a total value of $978,040.72. Following the completion of the transaction, the senior vice president owned 92,129 shares in the company, valued at $2,916,804.14. This trade represents a 25.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michele A. Peppers sold 13,091 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $30.00, for a total transaction of $392,730.00. Following the completion of the sale, the insider directly owned 49,914 shares in the company, valued at approximately $1,497,420. The trade was a 20.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,565 shares of company stock worth $4,550,566. 2.11% of the stock is currently owned by corporate 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.