Mackenzie Financial Corp Purchases 14,084 Shares of Perdoceo Education Corporation (NASDAQ:PRDO)

Key Points

• Mackenzie Financial Corp increased its holdings in Perdoceo Education Corporation by 21.7%, now owning approximately 0.12% of the company after purchasing an additional 14,084 shares.
• Insider sales included Director William Dean Hansen selling 5,994 shares and SVP Julia A. Leeman selling 5,000 shares, with insiders having sold a total of 131,474 shares worth over $4 million last quarter.
• Perdoceo Education recently announced a dividend increase to $0.15 per quarter, up from $0.13, indicating a 2.0% annual dividend yield.

Mackenzie Financial Corp lifted its stake in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 21.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,841 shares of the company's stock after buying an additional 14,084 shares during the quarter. Mackenzie Financial Corp owned approximately 0.12% of Perdoceo Education worth $1,985,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc purchased a new position in Perdoceo Education in the 1st quarter worth $25,000. Quarry LP lifted its holdings in Perdoceo Education by 223.6% during the 4th quarter. Quarry LP now owns 1,793 shares of the company's stock worth $47,000 after buying an additional 1,239 shares during the last quarter. New Vernon Capital Holdings II LLC acquired a new stake in shares of Perdoceo Education in the fourth quarter valued at approximately $127,000. Point72 Asset Management L.P. increased its stake in Perdoceo Education by 31.7% in the 4th quarter. Point72 Asset Management L.P. now owns 7,900 shares of the company's stock valued at $209,000 after buying an additional 1,900 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Perdoceo Education during the 4th quarter worth approximately $233,000. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insider Buying and Selling at Perdoceo Education

In related news, SVP Sunitha Araamudhu sold 14,296 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $30.69, for a total value of $438,744.24. Following the transaction, the senior vice president owned 34,891 shares in the company, valued at $1,070,804.79. The trade was a 29.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Julia A. Leeman sold 5,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $32.07, for a total value of $160,350.00. Following the completion of the transaction, the senior vice president owned 29,677 shares in the company, valued at approximately $951,741.39. This represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,474 shares of company stock worth $4,157,836 over the last three months. 2.11% of the stock is owned by corporate insiders.

Perdoceo Education Price Performance

NASDAQ PRDO traded down $1.62 on Monday, reaching $28.08. The company's stock had a trading volume of 1,158,161 shares, compared to its average volume of 711,646. Perdoceo Education Corporation has a 52 week low of $20.55 and a 52 week high of $34.60. The business has a 50-day moving average price of $31.19 and a 200 day moving average price of $28.51. 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 market cap of $1.84 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Perdoceo Education had a return on equity of 17.13% and a net margin of 20.09%. The company had revenue of $209.58 million during the quarter, compared to the consensus estimate of $206.92 million. During the same period in the prior year, the company earned $0.60 earnings per share. The company's revenue for the quarter was up 25.7% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. This is an increase from Perdoceo Education's previous quarterly dividend of $0.13. Perdoceo Education's dividend payout ratio is presently 22.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Barrington Research reiterated an "outperform" rating and set a $40.00 price target on shares of Perdoceo Education in a report on Friday.

About Perdoceo Education

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.