Perdoceo Education (NASDAQ:PRDO) Hits New 1-Year Low – Here’s Why

Shares of Perdoceo Education Corporation (NASDAQ:PRDO) reached a new 52-week low during trading on Thursday. The company traded as low as $26.41 and last traded at $26.8250, with a volume of 1,092,045 shares trading hands. The stock had previously closed at $29.99.

Analysts Set New Price Targets

PRDO has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Perdoceo Education in a research note on Thursday, October 15th. Wall Street Zen lowered Perdoceo Education from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Perdoceo Education has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Perdoceo Education Price Performance

The firm’s 50-day moving average price is $32.43 and its 200 day moving average price is $33.31. The firm has a market cap of $1.66 billion, a P/E ratio of 9.67, a PEG ratio of 0.63 and a beta of 0.76.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.08. The business had revenue of $215.86 million for the quarter, compared to analyst estimates of $211.07 million. Perdoceo Education had a net margin of 20.62% and a return on equity of 18.93%. Analysts forecast that Perdoceo Education Corporation will post 3.13 earnings per share for the current year.

Insider Transactions at Perdoceo Education

In other Perdoceo Education news, Chairman Gregory L. Jackson sold 11,271 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $31.78, for a total value of $358,192.38. Following the completion of the sale, the chairman owned 64,949 shares in the company, valued at approximately $2,064,079.22. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd S. Nelson sold 46,199 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $32.89, for a total transaction of $1,519,485.11. Following the sale, the chief executive officer owned 301,782 shares of the company’s stock, valued at $9,925,609.98. This represents a 13.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.46% of the stock is owned by corporate insiders.

Institutional Trading of Perdoceo Education

Several hedge funds have recently bought and sold shares of PRDO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Perdoceo Education by 0.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,318 shares of the company’s stock worth $3,338,000 after purchasing an additional 525 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Perdoceo Education by 4.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 14,000 shares of the company’s stock valued at $433,000 after purchasing an additional 600 shares during the period. Baron Wealth Management LLC increased its position in shares of Perdoceo Education by 9.5% in the second quarter. Baron Wealth Management LLC now owns 7,356 shares of the company’s stock valued at $235,000 after buying an additional 636 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Perdoceo Education by 48.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,132 shares of the company’s stock worth $63,000 after purchasing an additional 699 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Perdoceo Education by 16.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,380 shares of the company’s stock worth $166,000 after purchasing an additional 749 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

About Perdoceo Education

Perdoceo Education Corporation (NASDAQ: PRDO) is a provider of postsecondary education focused primarily on online learning. Through its institutions, the company offers career-oriented academic programs designed for working adults and other nontraditional students.

Perdoceo’s education brands include American InterContinental University and Colorado Technical University, which offer associate, bachelor’s, master’s and doctoral degree programs in areas such as business, information technology, healthcare, criminal justice and engineering.