Picton Mahoney Asset Management Increases Stock Position in Perdoceo Education Corporation (NASDAQ:PRDO)

Picton Mahoney Asset Management raised its holdings in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 28,903.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,082 shares of the company's stock after acquiring an additional 15,030 shares during the quarter. Picton Mahoney Asset Management's holdings in Perdoceo Education were worth $380,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PRDO. IFP Advisors Inc acquired a new position in shares of Perdoceo Education during the 1st quarter worth about $25,000. Quarry LP boosted its position in shares of 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 acquiring an additional 1,239 shares in the last quarter. New Vernon Capital Holdings II LLC acquired a new position in shares of Perdoceo Education during the 4th quarter worth about $127,000. Point72 Asset Management L.P. boosted its position in shares of Perdoceo Education by 31.7% during the 4th quarter. Point72 Asset Management L.P. now owns 7,900 shares of the company's stock worth $209,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Perdoceo Education during the 4th quarter worth about $219,000. 93.46% of the stock is owned by institutional investors and hedge funds.

Perdoceo Education Stock Performance

Shares of PRDO traded up $0.92 during midday trading on Friday, reaching $29.70. 1,364,830 shares of the stock were exchanged, compared to its average volume of 643,404. The business's 50-day moving average price is $31.19 and its 200 day moving average price is $28.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 4.43. Perdoceo Education Corporation has a twelve month low of $20.55 and a twelve month high of $34.60. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.77 and a beta of 0.87.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.02. Perdoceo Education had a return on equity of 17.26% and a net margin of 20.09%. The business had revenue of $209.58 million for the quarter, compared to analysts' expectations of $206.92 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's revenue was up 25.7% compared to the same quarter last year. On average, sell-side analysts expect that Perdoceo Education Corporation will post 2.41 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.15 per share. This is an increase from Perdoceo Education's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Perdoceo Education's dividend payout ratio is 23.01%.

Insider Activity

In related news, SVP David C. Czeszewski sold 30,892 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $31.66, for a total transaction of $978,040.72. Following the transaction, the senior vice president owned 92,129 shares of the company's stock, valued at $2,916,804.14. This trade represents a 25.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William Dean Hansen sold 5,994 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $31.56, for a total value of $189,170.64. Following the transaction, the director directly owned 44,171 shares in the company, valued at approximately $1,394,036.76. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,474 shares of company stock valued at $4,157,836. Insiders own 2.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen cut 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 target price on shares of Perdoceo Education in a research 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.