Perdoceo Education (NASDAQ:PRDO) Hits New 12-Month Low - What's Next?

Key Points

• Perdoceo shares hit a 52-week low, falling 11.7% to an intraday low of $26.41, compared with the prior close of $29.99.
• The company beat quarterly estimates, reporting EPS of $0.77 versus $0.69 expected and revenue of $215.86 million versus $211.07 million. Analysts’ consensus rating remains “Moderate Buy,” with a $44 price target.
• CEO Todd Nelson and Chairman Gregory Jackson recently sold shares, reducing their holdings by 13.28% and 14.79%, respectively.

Shares of Perdoceo Education Corporation (NASDAQ:PRDO - Get Free Report) hit a new 52-week low on Thursday. The stock traded as low as $26.41 and last traded at $26.8250, with a volume of 1,092,045 shares traded. The stock had previously closed at $29.99.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of Perdoceo Education in a report on Thursday, October 15th. Wall Street Zen lowered shares of Perdoceo Education from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.

Perdoceo Education Trading Down 11.7%

The stock has a market cap of $1.66 billion, a PE ratio of 9.67, a P/E/G ratio of 0.63 and a beta of 0.76. The business's 50-day moving average price is $32.43 and its 200-day moving average price is $33.31.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.08. Perdoceo Education had a net margin of 20.62% and a return on equity of 18.93%. The company had revenue of $215.86 million during the quarter, compared to the consensus estimate of $211.07 million. As a group, analysts predict that Perdoceo Education Corporation will post 3.13 earnings per share for the current year.

Insider Activity

In other Perdoceo Education news, CEO Todd S. Nelson sold 46,199 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $32.89, for a total transaction of $1,519,485.11. Following the transaction, the chief executive officer owned 301,782 shares in the company, valued at approximately $9,925,609.98. This represents a 13.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory L. Jackson sold 11,271 shares of Perdoceo Education stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $31.78, for a total transaction of $358,192.38. Following the sale, the chairman owned 64,949 shares of the company's stock, valued at $2,064,079.22. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perdoceo Education

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Perdoceo Education in the 2nd quarter valued at $294,217,000. Dimensional Fund Advisors LP grew its holdings in shares of Perdoceo Education by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,907,383 shares of the company's stock worth $145,395,000 after buying an additional 108,727 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Perdoceo Education by 2.2% during the first quarter. First Trust Advisors LP now owns 2,970,195 shares of the company's stock worth $110,521,000 after buying an additional 64,399 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of Perdoceo Education by 8.0% during the first quarter. Copeland Capital Management LLC now owns 1,854,135 shares of the company's stock worth $68,992,000 after buying an additional 137,285 shares in the last quarter. Finally, Callodine Capital Management LP raised its position in shares of Perdoceo Education by 36.6% in the first quarter. Callodine Capital Management LP now owns 1,316,540 shares of the company's stock valued at $48,988,000 after buying an additional 352,850 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company's stock.

Perdoceo Education Company Profile

Perdoceo Education Corporation NASDAQ: PRDO is a provider of postsecondary education focused primarily on online learning. Through its institutions, the company offers career-oriented academic programs designed for working adults and other nontraditional students.

Perdoceo's education brands include American InterContinental University and Colorado Technical University, which offer associate, bachelor's, master's and doctoral degree programs in areas such as business, information technology, healthcare, criminal justice and engineering.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.