Perdoceo Education Co. (NASDAQ:PRDO) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,757 shares of the company's stock after selling 64,664 shares during the quarter. Mackenzie Financial Corp owned 0.10% of Perdoceo Education worth $1,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRDO. Barclays PLC increased its holdings in shares of Perdoceo Education by 353.5% during the third quarter. Barclays PLC now owns 110,622 shares of the company's stock worth $2,460,000 after buying an additional 86,227 shares in the last quarter. KBC Group NV lifted its position in Perdoceo Education by 47.5% in the 4th quarter. KBC Group NV now owns 3,696 shares of the company's stock valued at $98,000 after acquiring an additional 1,190 shares in the last quarter. R Squared Ltd bought a new position in Perdoceo Education during the 4th quarter valued at $60,000. Vest Financial LLC grew its position in Perdoceo Education by 39.2% in the 4th quarter. Vest Financial LLC now owns 92,870 shares of the company's stock worth $2,458,000 after purchasing an additional 26,142 shares in the last quarter. Finally, Polaris Capital Management LLC increased its position in shares of Perdoceo Education by 26.0% during the fourth quarter. Polaris Capital Management LLC now owns 54,800 shares of the company's stock valued at $1,451,000 after acquiring an additional 11,300 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Perdoceo Education Trading Down 1.4%

PRDO stock traded down $0.46 during midday trading on Wednesday, reaching $33.31. 393,220 shares of the company traded hands, compared to its average volume of 484,281. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.45 and a current ratio of 4.84. Perdoceo Education Co. has a 52-week low of $20.23 and a 52-week high of $34.60. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 0.75 and a beta of 0.85. The business has a 50 day moving average of $28.40 and a 200-day moving average of $27.33.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. The business had revenue of $213.00 million for the quarter, compared to the consensus estimate of $207.97 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The business's quarterly revenue was up 26.6% on a year-over-year basis. As a group, sell-side analysts expect that Perdoceo Education Co. 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 will be paid on Friday, June 13th. Shareholders of record on Sunday, June 1st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, May 30th. Perdoceo Education's dividend payout ratio is currently 23.01%.

Insiders Place Their Bets

In other news, CEO Todd S. Nelson sold 38,984 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $24.66, for a total value of $961,345.44. Following the completion of the transaction, the chief executive officer now owns 644,047 shares of the company's stock, valued at $15,882,199.02. The trade was a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ashish R. Ghia sold 6,236 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $25.00, for a total value of $155,900.00. Following the completion of the transaction, the chief financial officer now directly owns 252,130 shares in the company, valued at $6,303,250. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,116 shares of company stock worth $3,895,709 in the last quarter. 2.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRDO. Wall Street Zen lowered shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Barrington Research upped their price objective on shares of Perdoceo Education from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd.

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.