Perdoceo Education (NASDAQ:PRDO) Stock Price Down 4.4% - Here's What Happened

Key Points

• Perdoceo Education's stock price fell by 4.4%, closing at $28.38, following a decline in trading volume of 20% compared to its average.
• The company has increased its quarterly dividend to $0.15 per share, up from $0.13, representing a 2.1% yield on an annualized basis.
• Recent analyst activity included a downgrade from Wall Street Zen, moving from a "strong-buy" to a "buy" rating, while Barrington Research maintained an "outperform" rating with a $40 price target.

Perdoceo Education Corporation (NASDAQ:PRDO - Get Free Report)'s share price fell 4.4% during mid-day trading on Monday . The company traded as low as $28.40 and last traded at $28.38. 475,933 shares traded hands during trading, a decline of 20% from the average session volume of 591,453 shares. The stock had previously closed at $29.70.

Analyst Upgrades and Downgrades

PRDO has been the subject of several research reports. Wall Street Zen cut shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Barrington Research reaffirmed an "outperform" rating and issued a $40.00 price target on shares of Perdoceo Education in a research note on Friday.

Perdoceo Education Trading Down 5.5%

The company has a market capitalization of $1.84 billion, a P/E ratio of 12.16, a PEG ratio of 0.79 and a beta of 0.87. The business has a fifty day moving average of $31.19 and a 200-day moving average of $28.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.26 and a current ratio of 4.27.

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

Perdoceo Education Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. This is a boost from Perdoceo Education's previous quarterly dividend of $0.13. Perdoceo Education's dividend payout ratio is 25.97%.

Insider Activity

In related news, SVP John Robert Kline sold 71,254 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.75, for a total value of $2,262,314.50. Following the completion of the transaction, the senior vice president owned 75,868 shares of the company's stock, valued at approximately $2,408,809. This represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Julia A. Leeman sold 5,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $32.07, for a total value of $160,350.00. Following the transaction, the senior vice president owned 29,677 shares in the company, valued at $951,741.39. This trade represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,474 shares of company stock valued at $4,157,836 in the last three months. 2.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRDO. IFP Advisors Inc acquired a new stake in Perdoceo Education during the first quarter worth about $25,000. Quarry LP grew its position in Perdoceo Education by 223.6% in the 4th quarter. Quarry LP now owns 1,793 shares of the company's stock worth $47,000 after purchasing an additional 1,239 shares during the last quarter. New Vernon Capital Holdings II LLC acquired a new stake in shares of Perdoceo Education during the 4th quarter valued at about $127,000. Planned Solutions Inc. bought a new position in Perdoceo Education during the 2nd quarter valued at about $201,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Perdoceo Education in the first quarter worth about $206,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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