Pacer Advisors Inc. Sells 512,893 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Pacer Advisors Inc. reduced its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 19.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,137,230 shares of the company’s stock after selling 512,893 shares during the quarter. Pacer Advisors Inc. owned 3.25% of Perdoceo Education worth $47,532,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PRDO. Vanguard Group Inc. increased its holdings in Perdoceo Education by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock worth $103,538,000 after buying an additional 45,259 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Perdoceo Education in the 2nd quarter valued at approximately $2,570,000. SG Americas Securities LLC acquired a new stake in shares of Perdoceo Education in the 2nd quarter valued at $954,000. Boston Partners grew its position in Perdoceo Education by 979.2% in the first quarter. Boston Partners now owns 750,979 shares of the company’s stock valued at $13,376,000 after acquiring an additional 681,391 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Perdoceo Education by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock valued at $96,512,000 after purchasing an additional 107,918 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Perdoceo Education Stock Performance

Shares of Perdoceo Education stock opened at $26.82 on Friday. The stock’s 50-day simple moving average is $22.69 and its 200 day simple moving average is $22.56. The stock has a market capitalization of $1.76 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.78 and a beta of 1.04. Perdoceo Education Co. has a 52-week low of $16.12 and a 52-week high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last announced its earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06. The business had revenue of $169.83 million during the quarter, compared to analyst estimates of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. Perdoceo Education’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. Equities research analysts forecast that Perdoceo Education Co. will post 2.27 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.94%. Perdoceo Education’s dividend payout ratio (DPR) is currently 26.13%.

Insider Buying and Selling

In other news, Director Patrick W. Gross sold 3,400 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.74, for a total value of $90,916.00. Following the transaction, the director now owns 69,635 shares in the company, valued at $1,862,039.90. This represents a 4.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education stock in a transaction 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 transaction, the insider now owns 61,952 shares in the company, valued at $1,300,992. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,450 shares of company stock worth $1,036,206 in the last 90 days. Insiders own 1.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Friday. Barrington Research increased their target price on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

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.