Millennium Management LLC Raises Stock 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 grew its holdings in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 48.9% in the first quarter, according to its most recent disclosure with the Securities & 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. IFP Advisors Inc purchased a new stake in shares of Perdoceo Education in the first quarter worth about $25,000. Jefferies Financial Group Inc. purchased a new stake in shares of Perdoceo Education in the first quarter worth about $206,000. Point72 Asset Management L.P. lifted its holdings in shares of Perdoceo Education by 31.7% in the fourth quarter. Point72 Asset Management L.P. now owns 7,900 shares of the company's stock worth $209,000 after buying an additional 1,900 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Perdoceo Education by 4.7% in the first quarter. AlphaQuest LLC now owns 8,976 shares of the company's stock worth $226,000 after buying an additional 399 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Perdoceo Education in the first quarter worth about $267,000. Institutional investors own 93.46% of the company's stock.

Perdoceo Education Price Performance

Shares of PRDO stock traded up $0.18 during trading hours on Tuesday, hitting $35.13. 496,565 shares of the company's stock were exchanged, compared to its average volume of 496,157. The company has a market capitalization of $2.28 billion, a PE ratio of 15.21, a PEG 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 $35.40. The business's 50 day simple moving average is $31.28 and its 200-day simple moving average is $29.56. The company has a current ratio of 4.27, a quick ratio of 4.26 and a debt-to-equity ratio of 0.01.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $209.58 million for the quarter, compared to the consensus estimate of $206.92 million. Perdoceo Education had a net margin of 20.09% and a return on equity of 17.13%. The business's revenue was up 25.7% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. 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, equities research analysts anticipate that Perdoceo Education Corporation will post 2.41 earnings per share for the current year.

Perdoceo Education Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd were paid 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 of this dividend was Tuesday, September 2nd. Perdoceo Education's payout ratio is 25.97%.

Insider Buying and Selling at Perdoceo Education

In related news, SVP Elise Baskel sold 21,212 shares of Perdoceo Education stock in a transaction on Friday, September 12th. The shares were sold at an average price of $35.00, for a total value of $742,420.00. Following the transaction, the senior vice president directly owned 72,142 shares of the company's stock, valued at $2,524,970. The trade was a 22.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashish R. Ghia sold 53,081 shares of Perdoceo Education stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $30.70, for a total transaction of $1,629,586.70. Following the completion of the transaction, the chief financial officer directly owned 157,632 shares in the company, valued at approximately $4,839,302.40. The trade was a 25.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,656 shares of company stock valued at $4,073,148. 2.11% of the stock is owned by insiders.

Analyst Ratings Changes

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, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $40.00.

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.