Western Standard LLC Trims Stake in Career Education Corporation (CECO)
Western Standard LLC decreased its holdings in shares of Career Education Corporation (NASDAQ:CECO) by 76.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,179 shares of the company’s stock after selling 211,077 shares during the period. Career Education Corporation makes up approximately 0.8% of Western Standard LLC’s holdings, making the stock its 26th largest position. Western Standard LLC owned approximately 0.09% of Career Education Corporation worth $616,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System grew its holdings in shares of Career Education Corporation by 1.5% during the first quarter. Arizona State Retirement System now owns 33,600 shares of the company’s stock worth $292,000 after buying an additional 500 shares during the last quarter. Comerica Bank raised its stake in Career Education Corporation by 3.9% during the 1st quarter. Comerica Bank now owns 71,190 shares of the company’s stock valued at $729,000 after acquiring an additional 2,651 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Career Education Corporation during the 2nd quarter valued at approximately $1,392,000. Ameriprise Financial Inc. raised its stake in Career Education Corporation by 4.7% during the 1st quarter. Ameriprise Financial Inc. now owns 336,005 shares of the company’s stock valued at $2,924,000 after acquiring an additional 15,020 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Career Education Corporation by 64.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 22,900 shares of the company’s stock valued at $199,000 after acquiring an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 75.38% of the company’s stock.
Career Education Corporation (NASDAQ CECO) traded down 0.84% during trading on Wednesday, reaching $10.61. 50,928 shares of the company were exchanged. Career Education Corporation has a 52-week low of $6.55 and a 52-week high of $12.59. The firm’s 50 day moving average is $9.63 and its 200 day moving average is $9.46. The stock’s market capitalization is $732.90 million.
Career Education Corporation (NASDAQ:CECO) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.11. The business had revenue of $146.20 million during the quarter, compared to analyst estimates of $147.80 million. Career Education Corporation had a positive return on equity of 3.73% and a negative net margin of 3.82%. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. Analysts expect that Career Education Corporation will post $0.18 EPS for the current year.
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In related news, Director Gregory L. Jackson bought 10,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $8.78 per share, with a total value of $87,800.00. Following the completion of the transaction, the director now directly owns 30,866 shares of the company’s stock, valued at $271,003.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.88% of the stock is owned by company insiders.
A number of analysts have weighed in on CECO shares. BidaskClub cut Career Education Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $13.00 target price on shares of Career Education Corporation in a research note on Friday, July 21st.
About Career Education Corporation
Career Education Corporation, through its colleges, institutions and universities, offers education to students in a range of career-oriented disciplines through online, on-ground and hybrid learning programs. The Company’s American InterContinental University (AIU) and Colorado Technical University (CTU) provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels.
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