Mackenzie Financial Corp Lowers Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Mackenzie Financial Corp trimmed its position in Perdoceo Education Co. (NASDAQ:PRDO) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,235 shares of the company’s stock after selling 7,175 shares during the quarter. Mackenzie Financial Corp’s holdings in Perdoceo Education were worth $2,447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new position in Perdoceo Education in the second quarter valued at approximately $39,000. Fifth Third Bancorp increased its position in shares of Perdoceo Education by 650.6% in the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after acquiring an additional 1,633 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Perdoceo Education in the 2nd quarter valued at $74,000. nVerses Capital LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter valued at $92,000. Finally, Banque Cantonale Vaudoise boosted its position in Perdoceo Education by 9.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock worth $110,000 after purchasing an additional 565 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Perdoceo Education Stock Down 1.6 %

NASDAQ PRDO opened at $21.26 on Thursday. Perdoceo Education Co. has a fifty-two week low of $16.12 and a fifty-two week high of $26.40. The business has a 50 day moving average price of $22.55 and a two-hundred day moving average price of $21.36. The stock has a market cap of $1.39 billion, a PE ratio of 9.37, a P/E/G ratio of 0.67 and a beta of 1.04.

Perdoceo Education (NASDAQ:PRDO) last announced 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. 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 the consensus estimate of $160.91 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. Sell-side analysts anticipate that Perdoceo Education Co. will post 2.19 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Sunday, September 1st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from Perdoceo Education’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, August 30th. Perdoceo Education’s payout ratio is presently 22.91%.

Insider Buying and Selling

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director William Dean Hansen sold 13,185 shares of the company’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 sale, the director now owns 39,016 shares in the company, valued at approximately $897,758.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michele A. Peppers sold 6,476 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the transaction, 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 worth $1,044,656. 1.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Perdoceo Education in a research report on Friday, September 20th.

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.