Pacer Advisors Inc. Has $11.99 Million Stake in Perdoceo Education Corporation (NASDAQ:PRDO)

Key Points

• Pacer Advisors Inc. has significantly reduced its holdings in Perdoceo Education Corporation, selling 1,375,453 shares and decreasing its stake by 74.3%.
• Insider transactions include the sale of 14,296 shares by SVP Sunitha Araamudhu and 5,994 shares by Director William Dean Hansen, indicating a notable decline in insider ownership.
• Perdoceo Education declared a quarterly dividend of $0.13 per share, yielding 1.83% annually, with a dividend payout ratio of 23.01%.

Pacer Advisors Inc. lowered its holdings in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 74.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 476,080 shares of the company's stock after selling 1,375,453 shares during the quarter. Pacer Advisors Inc. owned 0.73% of Perdoceo Education worth $11,988,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PRDO. Quantbot Technologies LP bought a new stake in Perdoceo Education during the fourth quarter worth about $172,000. KLP Kapitalforvaltning AS bought a new stake in shares of Perdoceo Education during the fourth quarter valued at approximately $1,519,000. Prudential Financial Inc. grew its stake in shares of Perdoceo Education by 22.4% during the fourth quarter. Prudential Financial Inc. now owns 119,735 shares of the company's stock valued at $3,169,000 after purchasing an additional 21,890 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Perdoceo Education during the fourth quarter valued at approximately $215,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Perdoceo Education by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 742,342 shares of the company's stock valued at $19,650,000 after purchasing an additional 160,162 shares during the last quarter. 93.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Perdoceo Education news, SVP John Robert Kline sold 71,254 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.75, for a total value of $2,262,314.50. Following the sale, the senior vice president directly owned 75,868 shares in the company, valued at approximately $2,408,809. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Dean Hansen sold 5,994 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $31.56, for a total transaction of $189,170.64. Following the sale, the director owned 44,171 shares in the company, valued at approximately $1,394,036.76. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,565 shares of company stock valued at $4,550,566. 2.11% of the stock is owned by company insiders.

Perdoceo Education Trading Up 1.0%

NASDAQ PRDO traded up $0.29 during trading hours on Wednesday, hitting $28.85. The company's stock had a trading volume of 68,222 shares, compared to its average volume of 581,730. The stock has a fifty day moving average of $31.30 and a 200 day moving average of $28.45. Perdoceo Education Corporation has a twelve month low of $20.55 and a twelve month high of $34.60. The firm has a market capitalization of $1.89 billion, a P/E ratio of 12.77, a PEG ratio of 0.76 and a beta of 0.83. The company has a quick ratio of 4.43, a current ratio of 4.46 and a debt-to-equity ratio of 0.01.

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

Perdoceo Education Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Sunday, June 1st were issued a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.80%. Perdoceo Education's dividend payout ratio (DPR) is presently 23.01%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barrington Research reissued an "outperform" rating and set a $40.00 price target on shares of Perdoceo Education in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.

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.