Manning & Napier Advisors LLC Increases Stock Position in Perdoceo Education Co. (NASDAQ:PRDO)

Manning & Napier Advisors LLC increased its position in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 32.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 162,797 shares of the company’s stock after buying an additional 39,808 shares during the period. Manning & Napier Advisors LLC’s holdings in Perdoceo Education were worth $4,309,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of Perdoceo Education during the third quarter worth about $9,374,000. Millennium Management LLC grew its stake in Perdoceo Education by 944.8% during the 2nd quarter. Millennium Management LLC now owns 246,659 shares of the company’s stock valued at $5,283,000 after purchasing an additional 223,050 shares in the last quarter. Barclays PLC increased its holdings in Perdoceo Education by 353.5% during the 3rd quarter. Barclays PLC now owns 110,622 shares of the company’s stock worth $2,460,000 after purchasing an additional 86,227 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Perdoceo Education in the 2nd quarter valued at approximately $1,836,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Perdoceo Education by 296.7% during the 2nd quarter. Squarepoint Ops LLC now owns 96,261 shares of the company’s stock valued at $2,062,000 after buying an additional 71,995 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, Director Patrick W. Gross sold 3,400 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the sale, the director now directly owns 69,635 shares in the company, valued at approximately $1,862,039.90. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John Robert Kline sold 30,574 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $26.47, for a total transaction of $809,293.78. Following the transaction, the senior vice president now owns 130,405 shares of the company’s stock, valued at $3,451,820.35. This represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,594 shares of company stock valued at $1,541,396 in the last quarter. Insiders own 1.81% of the company’s stock.

Wall Street Analyst Weigh In

PRDO has been the subject of a number of research analyst reports. Barrington Research lifted their price target on shares of Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

Perdoceo Education Stock Down 0.9 %

Shares of NASDAQ PRDO opened at $28.18 on Thursday. The stock’s 50 day moving average price is $27.03 and its two-hundred day moving average price is $24.22. Perdoceo Education Co. has a 52-week low of $16.12 and a 52-week high of $29.47. The stock has a market capitalization of $1.85 billion, a P/E ratio of 14.16, a PEG ratio of 0.79 and a beta of 1.06.

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

Perdoceo Education Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was 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.