Pacific Ridge Capital Partners LLC Sells 30,555 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Pacific Ridge Capital Partners LLC reduced its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 32.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,245 shares of the company’s stock after selling 30,555 shares during the quarter. Pacific Ridge Capital Partners LLC owned 0.10% of Perdoceo Education worth $1,376,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PRDO. Vanguard Group Inc. increased its stake in Perdoceo Education by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock worth $103,538,000 after purchasing an additional 45,259 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Perdoceo Education by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,069,173 shares of the company’s stock valued at $108,580,000 after buying an additional 28,909 shares during the period. Renaissance Technologies LLC increased its position in shares of Perdoceo Education by 2.5% during the second quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock worth $96,512,000 after acquiring an additional 107,918 shares in the last quarter. Pacer Advisors Inc. lifted its position in Perdoceo Education by 24.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,650,123 shares of the company’s stock valued at $56,766,000 after acquiring an additional 518,048 shares in the last quarter. Finally, LSV Asset Management lifted its position in Perdoceo Education by 3.9% in the 2nd quarter. LSV Asset Management now owns 2,010,254 shares of the company’s stock valued at $43,060,000 after acquiring an additional 75,293 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and set a $30.00 target price on shares of Perdoceo Education in a report on Friday, September 20th.

Perdoceo Education Stock Up 1.5 %

NASDAQ:PRDO opened at $22.17 on Friday. The company has a market cap of $1.45 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 0.67 and a beta of 1.03. Perdoceo Education Co. has a twelve month low of $16.12 and a twelve month high of $26.40. The business has a 50 day moving average price of $22.69 and a two-hundred day moving average price of $21.25.

Perdoceo Education (NASDAQ:PRDO) last announced its earnings results on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $0.61 earnings per share. The firm’s revenue was down 10.6% on a year-over-year basis. As a group, analysts anticipate that Perdoceo Education Co. will post 2.19 earnings per share for the current fiscal year.

Perdoceo Education Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Sunday, September 1st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was 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 22.91%.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, Chairman Gregory L. Jackson sold 26,664 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total transaction of $605,272.80. Following the transaction, the chairman now owns 58,644 shares of the company’s stock, valued at approximately $1,331,218.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Gregory L. Jackson sold 26,664 shares of the firm’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 completion of the transaction, the chairman now directly owns 58,644 shares of the company’s stock, valued at $1,331,218.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the sale, the insider now directly owns 61,952 shares in the company, valued at $1,300,992. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,325 shares of company stock valued at $1,044,656. Insiders own 1.81% of the company’s stock.

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.