August 20, 2023 – Hong Kong-based investment firm, &Y Intercept Hong Kong Ltd, recently acquired a new stake in Perdoceo Education Co. (NASDAQ:PRDO) during the first quarter, according to its latest disclosure with the Securities and Exchange Commission. The fund purchased 16,749 shares of the company’s stock, amounting to approximately $225,000.
Perdoceo Education (NASDAQ:PRDO) released its quarterly earnings results on Thursday, August 3rd. The company exceeded expectations by reporting $0.61 earnings per share (EPS) for the quarter, surpassing the consensus estimate of $0.52 by $0.09. In terms of revenue, Perdoceo Education generated $186.60 million compared to the consensus estimate of $179.40 million. This marked an 11.3% year-over-year increase in revenue for the company.
The return on equity for Perdoceo Education was reported as 17.41%, with a net margin of 17.50%. Comparing this quarter to the same period last year, Perdoceo Education showed significant growth as it registered an EPS of $0.42 during that time.
Analysts predict that Perdoceo Education Co.’s current fiscal year will see earnings per share amounting to 1.88.
Various research firms have commented on PRDO’s performance recently. Barrington Research raised their target price from $19.00 to $21.00 and gave the stock an “outperform” rating in a report published on Friday, August 4th.
StockNews.com also provided coverage on Perdoceo Education and issued a “strong-buy” rating for the company in a recent research report.
As investors continue to monitor developments within the education industry and evaluate various financial opportunities, it remains crucial to consider reports from reliable sources such as Barrington Research and StockNews.com.
Disclaimer: This article is based on information available as of August 20, 2023. The mentioned stock ratings and estimated earnings per share are subject to change based on future developments in the market.
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Perdoceo Education Attracts Attention: Ownership Changes and Insider Trading Spark Investor Curiosity
August 20, 2023
Perdoceo Education Attracts Attention from Institutional Investors and Hedge Funds
Perdoceo Education has recently seen changes in its ownership as various institutional investors and hedge funds made adjustments to their positions in the company. These changes have sparked interest and perplexity among investors, who closely monitor such activities.
One notable change in ownership occurred when Captrust Financial Advisors increased its stake in Perdoceo Education by a staggering 63.7% during the first quarter of the year. This substantial increase resulted in Captrust Financial Advisors now owning 4,248 shares of the company’s stock, valued at $49,000 after acquiring an additional 1,653 shares during the last quarter. The sudden surge in ownership undoubtedly raised eyebrows and added an element of bustiness to Perdoceo Education’s market presence.
Additionally, Banque Cantonale Vaudoise acquired a new stake in Perdoceo Education during the fourth quarter of last year, amounting to $55,000. Meanwhile, Tower Research Capital LLC TRC witnessed exponential growth in its holdings of Perdoceo Education shares by an impressive 190.5% during the third quarter. As a result of this surge, Tower Research Capital LLC TRC now owns 8,692 shares of the company’s stock valued at $89,000 after buying an additional 5,700 shares in that period.
Another significant development occurred when Advisor Group Holdings Inc., a prominent player in the industry, managed to grow its holdings in Perdoceo Education by 23%, amounting to $98,000. This increase was achieved through Advisor Group Holdings Inc.’s purchase of an additional 1,336 shares during the fourth quarter.
Lastly, Price T Rowe Associates Inc. MD entered into the picture by acquiring a new stake in Perdoceo Education worth $109,000 during the third quarter. These notable investments by institutional investors are indicative of the confidence and trust placed in Perdoceo Education, further contributing to its enigmatic presence in the market.
However, it is important to note that institutional investors do not solely determine the destiny of a company. Insider trading also plays a significant role in shaping a company’s stock performance. Senior Vice President John Robert Kline recently sold 11,000 shares of Perdoceo Education stock on August 15th at an average price of $16.42 per share, resulting in a total value of $180,620. Following this transaction, Kline now directly owns 157,315 shares in the company with a value of approximately $2,583,112.30.
In another insider trading incident, Chairman Todd S. Nelson sold 16,000 shares of Perdoceo Education on August 11th at an average price of $16.87 per share, amounting to a total value of $269,920. As a result of this sale, Nelson now holds 838,252 shares in the company with an estimated worth of $14,141,311.24.
These insider transactions over the past 90 days have seen corporate insiders sell approximately 55,823 shares of Perdoceo Education’s stock with a total valuation of $919,708. These figures emphasize that around 2.73% of the company’s stock is owned by corporate insiders.
As we analyze these perplexing ownership changes and insider trading activities surrounding Perdoceo Education Co., it is essential to consider the context within which these occurrences take place. The firm has a market capitalization of approximately $1.05 billion with a price-to-earnings ratio standing at 8.65%. With these figures in mind and considering its current position between its highest point at $17.06 and lowest point at $9.97 over the last twelve months, Perdoceo Education certainly presents a fascinating case in the market.
In conclusion, the recent changes in ownership by institutional investors and hedge funds have added a layer of complexity to Perdoceo Education’s market dynamics. Moreover, the insider trading activities executed by key individuals within the company have undoubtedly raised questions among investors. As we continue to observe these bustling transactions and perplexing developments surrounding Perdoceo Education, it becomes clear that its stock performance remains an area of great interest for stakeholders.
