Perdoceo Education (NASDAQ:PRDO) Hits New 52-Week High – Time to Buy?

Perdoceo Education Co. (NASDAQ:PRDO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.33 and last traded at $29.17, with a volume of 77927 shares traded. The stock had previously closed at $24.87.

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and issued a $30.00 target price on shares of Perdoceo Education in a research note on Friday, September 20th.

Perdoceo Education Price Performance

The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 0.77 and a beta of 1.04. The company’s 50 day moving average is $21.95 and its 200 day moving average is $22.29.

Insider Activity at Perdoceo Education

In related news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the sale, the insider now directly owns 61,952 shares in the company, valued at approximately $1,300,992. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Perdoceo Education

Several institutional investors have recently bought and sold shares of PRDO. Quarry LP grew its stake in Perdoceo Education by 1,306.3% during the second quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after buying an additional 1,254 shares during the period. Blue Trust Inc. grew its stake in Perdoceo Education by 38.7% during the third quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock worth $38,000 after buying an additional 492 shares during the period. Quest Partners LLC purchased a new stake in Perdoceo Education during the second quarter worth approximately $39,000. Fifth Third Bancorp grew its stake in Perdoceo Education by 650.6% during the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after buying an additional 1,633 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Perdoceo Education during the second quarter worth $74,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

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.