Longboard Asset Management LP Purchases New Shares in Perdoceo Education Corporation $PRDO

Key Points

• Longboard Asset Management LP purchased 8,452 shares of Perdoceo Education Corporation, valued at approximately $276,000, making it the 27th largest position in its investment portfolio.
• Perdoceo Education reported quarterly earnings of $0.67 per share, exceeding analyst expectations, and announced a dividend increase to $0.15 from the previous $0.13.
• Despite recent insider sales, including Chairman Gregory L. Jackson selling 16,561 shares, the stock has received positive analyst ratings, with a target price of $40.00 according to Barrington Research.

Longboard Asset Management LP bought a new stake in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,452 shares of the company's stock, valued at approximately $276,000. Perdoceo Education makes up approximately 0.7% of Longboard Asset Management LP's holdings, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC increased its position in Perdoceo Education by 4.7% during the 1st quarter. AlphaQuest LLC now owns 8,976 shares of the company's stock worth $226,000 after purchasing an additional 399 shares in the last quarter. SummerHaven Investment Management LLC increased its position in Perdoceo Education by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 36,624 shares of the company's stock valued at $922,000 after acquiring an additional 500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Perdoceo Education by 1.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,043 shares of the company's stock valued at $1,457,000 after acquiring an additional 683 shares during the period. IFP Advisors Inc acquired a new position in Perdoceo Education in the 1st quarter valued at approximately $25,000. Finally, Comerica Bank increased its position in Perdoceo Education by 4.4% in the 1st quarter. Comerica Bank now owns 39,029 shares of the company's stock valued at $983,000 after acquiring an additional 1,634 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Perdoceo Education

In other Perdoceo Education news, CFO Ashish R. Ghia sold 53,081 shares of the firm's stock in a transaction on 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 approximately $4,839,302.40. This trade represents a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Greg E. Jansen sold 30,234 shares of the firm's stock in a transaction on 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. The trade was a 23.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,656 shares of company stock valued at $6,871,148 over the last 90 days. Insiders own 2.11% of the company's stock.

Analysts Set New Price Targets

Separately, Barrington Research restated an "outperform" rating and issued 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.com, the company has an average rating of "Buy" and an average target price of $40.00.

Perdoceo Education Trading Up 2.7%

Shares of PRDO traded up $0.94 during trading hours on Monday, hitting $35.88. 603,513 shares of the stock were exchanged, compared to its average volume of 531,744. Perdoceo Education Corporation has a fifty-two week low of $20.55 and a fifty-two week high of $35.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.27 and a quick ratio of 4.26. The business has a 50-day moving average of $31.75 and a 200-day moving average of $29.87. The firm has a market capitalization of $2.33 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.67 earnings per share for the quarter, topping 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 company had revenue of $209.58 million during the quarter, compared to analysts' expectations of $206.92 million. During the same period in the prior year, the company posted $0.60 earnings per share. Perdoceo Education's revenue for the quarter 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, research analysts expect that Perdoceo Education Corporation will post 2.41 EPS for the current year.

Perdoceo Education Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. This is a boost from Perdoceo Education's previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, September 2nd. Perdoceo Education's dividend payout ratio is currently 25.97%.

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.