Millennium Management LLC Increases Holdings in Perdoceo Education Corporation $PRDO

Key Points

• Millennium Management LLC increased its holdings in Perdoceo Education Corporation by 48.9% in the first quarter, owning 1,297,465 shares valued at $32.7 million.
• The company recently increased its quarterly dividend to $0.15 per share, representing a dividend yield of 1.8%.
• Analysts maintain a Buy rating for Perdoceo Education, with a price target of $40.00 per share.

Millennium Management LLC raised its position in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 48.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,297,465 shares of the company's stock after purchasing an additional 425,893 shares during the quarter. Millennium Management LLC owned about 1.98% of Perdoceo Education worth $32,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its position in Perdoceo Education by 22.4% in the 4th quarter. Jane Street Group LLC now owns 122,917 shares of the company's stock worth $3,254,000 after buying an additional 22,466 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Perdoceo Education during the fourth quarter worth $637,000. Bank of America Corp DE lifted its stake in shares of Perdoceo Education by 21.6% during the 4th quarter. Bank of America Corp DE now owns 140,685 shares of the company's stock worth $3,724,000 after buying an additional 24,991 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Perdoceo Education by 27.0% in the 4th quarter. Baird Financial Group Inc. now owns 12,896 shares of the company's stock valued at $341,000 after buying an additional 2,743 shares during the period. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Perdoceo Education by 8.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 19,931 shares of the company's stock worth $528,000 after purchasing an additional 1,572 shares during the period. 93.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Gregory L. Jackson sold 4,568 shares of Perdoceo Education stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.50, for a total value of $148,460.00. Following the sale, the chairman directly owned 60,962 shares of the company's stock, valued at $1,981,265. The trade was a 6.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Greg E. Jansen sold 30,234 shares of Perdoceo Education stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $33.00, for a total value of $997,722.00. Following the transaction, the senior vice president owned 96,279 shares in the company, valued at approximately $3,177,207. The trade was a 23.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,444 shares of company stock worth $3,330,728 in the last three months. 2.11% of the stock is owned by insiders.

Perdoceo Education Stock Performance

NASDAQ PRDO traded up $0.06 during trading hours on Friday, hitting $34.83. The company's stock had a trading volume of 523,726 shares, compared to its average volume of 505,780. The company's 50 day simple moving average is $31.10 and its two-hundred day simple moving average is $29.40. The company has a market cap of $2.26 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91. Perdoceo Education Corporation has a 12 month low of $20.55 and a 12 month high of $35.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.27 and a quick ratio of 4.26.

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, beating analysts' consensus estimates of $0.65 by $0.02. Perdoceo Education had a return on equity of 17.13% and a net margin of 20.09%.The firm had revenue of $209.58 million for the quarter, compared to analysts' expectations of $206.92 million. During the same period in the previous year, the firm earned $0.60 EPS. The business's quarterly revenue was up 25.7% on a year-over-year basis. Perdoceo Education has set its Q3 2025 guidance at 0.600-0.620 EPS. FY 2025 guidance at 2.480-2.550 EPS. As a group, sell-side analysts expect that Perdoceo Education Corporation will post 2.41 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were issued a $0.15 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. This is a positive change from Perdoceo Education's previous quarterly dividend of $0.13. Perdoceo Education's dividend payout ratio (DPR) is currently 25.97%.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an "outperform" rating and issued a $40.00 price target on shares of Perdoceo Education in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $40.00.

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.