Exchange Traded Concepts LLC Has $2.95 Million Stake in Perdoceo Education Corporation (NASDAQ:PRDO)

Exchange Traded Concepts LLC cut its holdings in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 43.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 117,174 shares of the company's stock after selling 90,461 shares during the quarter. Exchange Traded Concepts LLC owned about 0.18% of Perdoceo Education worth $2,950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SummerHaven Investment Management LLC boosted its position in shares of Perdoceo Education by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,624 shares of the company's stock worth $922,000 after buying an additional 500 shares during the period. Axecap Investments LLC acquired a new position in Perdoceo Education during the 1st quarter worth approximately $2,953,000. SG Americas Securities LLC acquired a new position in Perdoceo Education during the 1st quarter worth approximately $464,000. Vest Financial LLC boosted its position in Perdoceo Education by 45.2% during the 1st quarter. Vest Financial LLC now owns 134,804 shares of the company's stock worth $3,394,000 after acquiring an additional 41,934 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Perdoceo Education by 5,773.0% during the 1st quarter. GAMMA Investing LLC now owns 22,435 shares of the company's stock worth $565,000 after acquiring an additional 22,053 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company's stock.

Insider Activity at Perdoceo Education

In related news, CFO Ashish R. Ghia sold 6,236 shares of Perdoceo Education stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $25.00, for a total transaction of $155,900.00. Following the completion of the sale, the chief financial officer now directly owns 252,130 shares of the company's stock, valued at approximately $6,303,250. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Todd S. Nelson sold 38,984 shares of Perdoceo Education stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $24.66, for a total value of $961,345.44. Following the sale, the chief executive officer now directly owns 644,047 shares of the company's stock, valued at approximately $15,882,199.02. The trade was a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,438 shares of company stock worth $6,894,752. Insiders own 2.11% of the company's stock.

Perdoceo Education Stock Up 1.7%

NASDAQ PRDO traded up $0.54 during trading hours on Wednesday, hitting $32.30. 535,674 shares of the company traded hands, compared to its average volume of 493,169. The business's 50-day moving average is $29.58 and its 200-day moving average is $27.64. Perdoceo Education Corporation has a twelve month low of $20.23 and a twelve month high of $34.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.43 and a current ratio of 4.46. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.85 and a beta of 0.85.

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

Perdoceo Education Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Sunday, June 1st were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.61%. Perdoceo Education's dividend payout ratio (DPR) is currently 23.01%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barrington Research increased their target price on shares of Perdoceo Education from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Wall Street Zen cut shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.

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.