Picton Mahoney Asset Management Makes New $155,000 Investment in Perdoceo Education Co. (NASDAQ:PRDO)

Picton Mahoney Asset Management bought a new position in Perdoceo Education Co. (NASDAQ:PRDO) in the second quarter, HoldingsChannel reports. The institutional investor bought 7,229 shares of the company’s stock, valued at approximately $155,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Perdoceo Education by 0.8% in the 1st 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. Dimensional Fund Advisors LP boosted its stake in shares of Perdoceo Education by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,064,870 shares of the company’s stock worth $88,940,000 after buying an additional 74,877 shares during the last quarter. LSV Asset Management boosted its stake in shares of Perdoceo Education by 59.4% in the 1st quarter. LSV Asset Management now owns 1,934,961 shares of the company’s stock worth $33,978,000 after buying an additional 721,122 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Perdoceo Education by 43.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,547 shares of the company’s stock worth $21,380,000 after buying an additional 366,202 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Perdoceo Education by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 946,603 shares of the company’s stock worth $16,622,000 after buying an additional 14,088 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

Perdoceo Education Stock Performance

NASDAQ PRDO opened at $22.44 on Monday. The company has a market capitalization of $1.47 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.68 and a beta of 1.02. The business’s fifty day moving average is $22.61 and its 200 day moving average is $20.68. Perdoceo Education Co. has a fifty-two week low of $15.94 and a fifty-two week high of $26.40.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $166.74 million for the quarter, compared to the consensus estimate of $160.91 million. Perdoceo Education had a return on equity of 16.42% and a net margin of 20.57%. Perdoceo Education’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. On average, sell-side analysts forecast that Perdoceo Education Co. will post 2.19 EPS for the current year.

Perdoceo Education Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Sunday, September 1st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, August 30th. This is a positive change from Perdoceo Education’s previous quarterly dividend of $0.11. Perdoceo Education’s dividend payout ratio is presently 19.38%.

Insider Buying and Selling at Perdoceo Education

In other news, Director William Dean Hansen sold 13,185 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total value of $303,386.85. Following the completion of the transaction, the director now owns 39,016 shares of the company’s stock, valued at $897,758.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Perdoceo Education news, Chairman Gregory L. Jackson sold 26,664 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $22.70, for a total value of $605,272.80. Following the sale, the chairman now owns 58,644 shares in the company, valued at approximately $1,331,218.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Dean Hansen sold 13,185 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $23.01, for a total value of $303,386.85. Following the transaction, the director now owns 39,016 shares of the company’s stock, valued at approximately $897,758.16. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and issued a $30.00 price target on shares of Perdoceo Education in a research note on Wednesday, August 21st.

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.