Hillsdale Investment Management Inc. Sells 34,600 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Hillsdale Investment Management Inc. lessened its holdings in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 309,050 shares of the company's stock after selling 34,600 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.47% of Perdoceo Education worth $5,427,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. bought a new position in shares of Perdoceo Education during the fourth quarter valued at $26,000. Planned Solutions Inc. bought a new position in Perdoceo Education during the 4th quarter worth $26,000. AJOVista LLC bought a new stake in shares of Perdoceo Education in the 4th quarter valued at about $81,000. Commons Capital LLC acquired a new stake in shares of Perdoceo Education in the fourth quarter valued at about $193,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Perdoceo Education during the third quarter worth about $208,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on PRDO shares. Barrington Research upped their target price on Perdoceo Education from $23.00 to $25.00 and gave the company an "outperform" rating in a report on Thursday, May 2nd. StockNews.com cut shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 25th.

Perdoceo Education Price Performance

Shares of Perdoceo Education stock traded down $0.31 on Friday, hitting $23.50. 288,988 shares of the company's stock traded hands, compared to its average volume of 657,718. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 0.71 and a beta of 0.93. The company has a fifty day moving average of $19.16 and a two-hundred day moving average of $18.16. Perdoceo Education Co. has a one year low of $11.62 and a one year high of $24.66.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.07. The firm had revenue of $168.30 million for the quarter, compared to analysts' expectations of $163.30 million. Perdoceo Education had a return on equity of 17.09% and a net margin of 22.35%. The company's revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. Equities research analysts anticipate that Perdoceo Education Co. will post 2.21 earnings per share for the current year.

Perdoceo Education Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.44 annualized dividend and a dividend yield of 1.87%. Perdoceo Education's dividend payout ratio is presently 19.38%.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $17.23, for a total value of $275,680.00. Following the completion of the sale, the chief executive officer now owns 713,367 shares of the company's stock, valued at $12,291,313.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Ashish R. Ghia sold 11,412 shares of the firm's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $19.00, for a total value of $216,828.00. Following the transaction, the chief financial officer now owns 226,234 shares of the company's stock, valued at approximately $4,298,446. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd S. Nelson sold 16,000 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $17.23, for a total value of $275,680.00. Following the sale, the chief executive officer now directly owns 713,367 shares of the company's stock, valued at $12,291,313.41. The disclosure for this sale can be found here. Insiders sold 75,412 shares of company stock valued at $1,342,428 in the last three months. Corporate insiders own 1.81% of the company's stock.

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.

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