Rhumbline Advisers Boosts Position in Perdoceo Education Co. (NASDAQ:PRDO)

Rhumbline Advisers raised its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 207,644 shares of the company’s stock after acquiring an additional 1,511 shares during the period. Rhumbline Advisers’ holdings in Perdoceo Education were worth $4,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position 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 valued at $103,538,000 after buying an additional 45,259 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Perdoceo Education during the second quarter worth about $2,570,000. LSV Asset Management increased its position in shares of Perdoceo Education by 59.4% during the first quarter. LSV Asset Management now owns 1,934,961 shares of the company’s stock worth $33,978,000 after purchasing an additional 721,122 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Perdoceo Education in the 2nd quarter valued at about $954,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Perdoceo Education in the 4th quarter valued at about $922,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Insider Activity

In related news, Director William Dean Hansen sold 13,185 shares of Perdoceo Education stock in a transaction on 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 directly owns 39,016 shares in the company, valued at approximately $897,758.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director William Dean Hansen sold 13,185 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $23.01, for a total transaction of $303,386.85. Following the completion of the transaction, the director now directly owns 39,016 shares of the company’s stock, valued at $897,758.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,325 shares of company stock valued at $1,044,656. Company insiders own 1.81% of the company’s stock.

Analyst Ratings Changes

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

Perdoceo Education Price Performance

PRDO stock opened at $22.17 on Monday. Perdoceo Education Co. has a 12 month low of $16.12 and a 12 month high of $26.40. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.65 and a beta of 1.03. The company has a fifty day moving average price of $22.72 and a 200 day moving average price of $20.98.

Perdoceo Education (NASDAQ:PRDO) last announced its earnings results on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The business had revenue of $166.74 million during the quarter, compared to analysts’ expectations of $160.91 million. During the same period in the prior year, the company earned $0.61 earnings per share. The business’s revenue was down 10.6% compared to the same quarter last year. As a group, analysts anticipate that Perdoceo Education Co. will post 2.19 earnings per share for the current year.

Perdoceo Education Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Sunday, September 1st were paid a $0.13 dividend. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Friday, August 30th. Perdoceo Education’s dividend payout ratio (DPR) is 22.91%.

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.