Perdoceo Education (NASDAQ:PRDO) Shares Down 4.7% – Here’s Why

Shares of Perdoceo Education Co. (NASDAQ:PRDO) traded down 4.7% on Monday . The stock traded as low as $32.19 and last traded at $31.45. 49,927 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 484,471 shares. The stock had previously closed at $33.00.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Barrington Research increased their price objective on Perdoceo Education from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday.

Perdoceo Education Trading Down 2.2%

The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 0.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 5.45. The company’s fifty day moving average price is $28.70 and its 200-day moving average price is $27.43.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Perdoceo Education had a net margin of 21.66% and a return on equity of 16.85%. The business had revenue of $213.00 million for the quarter, compared to analyst estimates of $207.97 million. During the same quarter in the prior year, the business posted $0.60 EPS. Perdoceo Education’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, research analysts expect that Perdoceo Education Co. will post 2.41 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Sunday, June 1st will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.61%. Perdoceo Education’s payout ratio is presently 23.01%.

Insiders Place Their Bets

In related news, SVP Sunitha Araamudhu sold 14,296 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $30.69, for a total value of $438,744.24. Following the completion of the transaction, the senior vice president now directly owns 34,891 shares in the company, valued at $1,070,804.79. The trade was a 29.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Julia A. Leeman sold 5,000 shares of Perdoceo Education stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $32.07, for a total transaction of $160,350.00. Following the completion of the transaction, the senior vice president now directly owns 29,677 shares of the company’s stock, valued at $951,741.39. The trade was a 14.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,116 shares of company stock valued at $3,895,709. 2.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Perdoceo Education

Institutional investors have recently modified their holdings of the business. Atria Investments Inc boosted its holdings in Perdoceo Education by 3.6% in the 4th quarter. Atria Investments Inc now owns 10,886 shares of the company’s stock worth $288,000 after buying an additional 375 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Perdoceo Education by 4.7% in the 1st quarter. AlphaQuest LLC now owns 8,976 shares of the company’s stock worth $226,000 after acquiring an additional 399 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Perdoceo Education by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,624 shares of the company’s stock worth $922,000 after purchasing an additional 500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Perdoceo Education by 1.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,043 shares of the company’s stock valued at $1,457,000 after acquiring an additional 683 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Perdoceo Education by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company’s stock valued at $34,000 after buying an additional 913 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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.