Weiss Asset Management LP Makes New Investment in Perdoceo Education Co. (NASDAQ:PRDO)

Weiss Asset Management LP acquired a new stake in Perdoceo Education Co. (NASDAQ:PRDO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 46,904 shares of the company’s stock, valued at approximately $1,043,000. Weiss Asset Management LP owned 0.07% of Perdoceo Education as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in Perdoceo Education in the 3rd quarter worth about $114,000. Point72 Asset Management L.P. purchased a new position in shares of Perdoceo Education during the 3rd quarter worth about $133,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Perdoceo Education in the third quarter worth approximately $228,000. Verition Fund Management LLC grew its holdings in Perdoceo Education by 183.0% in the third quarter. Verition Fund Management LLC now owns 27,122 shares of the company’s stock valued at $603,000 after purchasing an additional 17,538 shares during the period. Finally, Intech Investment Management LLC increased its position in Perdoceo Education by 220.8% during the third quarter. Intech Investment Management LLC now owns 56,839 shares of the company’s stock worth $1,264,000 after purchasing an additional 39,121 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP John Robert Kline sold 30,574 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $26.47, for a total transaction of $809,293.78. Following the completion of the sale, the senior vice president now directly owns 130,405 shares of the company’s stock, valued at approximately $3,451,820.35. This trade represents a 18.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.74, for a total transaction of $90,916.00. Following the completion of the transaction, the director now owns 69,635 shares in the company, valued at $1,862,039.90. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,450 shares of company stock worth $1,036,206 over the last quarter. 1.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PRDO shares. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Barrington Research increased their target price on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

Perdoceo Education Stock Performance

Shares of NASDAQ:PRDO opened at $26.88 on Monday. The stock has a 50-day simple moving average of $23.87 and a 200-day simple moving average of $22.84. The stock has a market capitalization of $1.77 billion, a P/E ratio of 13.51, a PEG ratio of 0.80 and a beta of 1.07. Perdoceo Education Co. has a 1 year low of $16.12 and a 1 year high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The firm had revenue of $169.83 million for the quarter, compared to analysts’ expectations of $164.60 million. During the same period in the previous year, the company posted $0.64 earnings per share. Perdoceo Education’s revenue was down 5.6% compared to the same quarter last year. Analysts predict that Perdoceo Education Co. will post 2.27 earnings per share for the current year.

Perdoceo Education Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, December 2nd. Perdoceo Education’s dividend payout ratio (DPR) is presently 26.13%.

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.