Empowered Funds LLC Sells 91,817 Shares of Perdoceo Education Corporation $PRDO

Key Points

• Empowered Funds LLC reduced its stake in Perdoceo Education Corporation by 30.5%, selling 91,817 shares and now owns 0.32% of the company, valued at $5.27 million.
• Perdoceo Education announced a quarterly dividend of $0.15 per share, marking an increase from the previous $0.13, with a yield of 1.7%.
• The company reported a 25.7% year-over-year increase in revenue for the last quarter, amounting to $209.58 million, and earnings per share of $0.67, surpassing estimates.

Empowered Funds LLC lessened its position in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 30.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,260 shares of the company's stock after selling 91,817 shares during the quarter. Empowered Funds LLC owned 0.32% of Perdoceo Education worth $5,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PRDO. BNP Paribas Financial Markets bought a new position in Perdoceo Education in the fourth quarter valued at $637,000. Bank of America Corp DE boosted its position in Perdoceo Education by 21.6% during the fourth quarter. Bank of America Corp DE now owns 140,685 shares of the company's stock valued at $3,724,000 after buying an additional 24,991 shares during the period. Baird Financial Group Inc. boosted its position in Perdoceo Education by 27.0% during the fourth quarter. Baird Financial Group Inc. now owns 12,896 shares of the company's stock valued at $341,000 after buying an additional 2,743 shares during the period. Balyasny Asset Management L.P. boosted its position in Perdoceo Education by 8.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 19,931 shares of the company's stock valued at $528,000 after buying an additional 1,572 shares during the period. Finally, Deutsche Bank AG boosted its position in Perdoceo Education by 58.7% during the fourth quarter. Deutsche Bank AG now owns 57,959 shares of the company's stock valued at $1,534,000 after buying an additional 21,432 shares during the period. Institutional investors own 93.46% of the company's stock.

Perdoceo Education Stock Performance

Perdoceo Education stock opened at $34.77 on Friday. The company has a current ratio of 4.27, a quick ratio of 4.26 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $31.05 and a 200-day moving average of $29.34. The firm has a market cap of $2.26 billion, a P/E ratio of 15.05, a P/E/G ratio of 0.88 and a beta of 0.91. Perdoceo Education Corporation has a 1-year low of $20.55 and a 1-year high of $34.85.

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

Perdoceo Education Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.15 per share. This is an increase from Perdoceo Education's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 2nd. Perdoceo Education's dividend payout ratio (DPR) is currently 25.97%.

Insider Transactions at Perdoceo Education

In other Perdoceo Education news, CFO Ashish R. Ghia sold 53,081 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $30.70, for a total value of $1,629,586.70. Following the completion of the sale, the chief financial officer directly owned 157,632 shares in the company, valued at $4,839,302.40. This trade represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Greg E. Jansen sold 30,234 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was 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 owned 96,279 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 104,444 shares of company stock worth $3,330,728. Company insiders own 2.11% of the company's stock.

Analyst Ratings Changes

Separately, Barrington Research restated an "outperform" rating and set a $40.00 price target on shares of Perdoceo Education in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Perdoceo Education presently has a consensus rating of "Buy" and an average price target of $40.00.

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.

Want to see what other hedge funds are holding PRDO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perdoceo Education Corporation (NASDAQ:PRDO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.