Career Education Corporation (CECO) Shares Up 6%
Career Education Corporation (NASDAQ:CECO) shares shot up 6% during trading on Tuesday . The company traded as high as $13.10 and last traded at $13.09. 507,300 shares changed hands during trading, an increase of 75% from the average session volume of 289,732 shares. The stock had previously closed at $12.35.
A number of research firms have recently commented on CECO. BidaskClub downgraded shares of Career Education Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 price objective on shares of Career Education Corporation in a research note on Friday, July 21st.
The company has a market capitalization of $853.31, a PE ratio of 51.46 and a beta of 2.66.
Career Education Corporation (NASDAQ:CECO) last posted its earnings results on Thursday, November 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The firm had revenue of $145.00 million during the quarter, compared to the consensus estimate of $149.10 million. Career Education Corporation had a negative net margin of 3.35% and a positive return on equity of 4.99%. The company’s revenue was down 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. research analysts expect that Career Education Corporation will post 0.18 EPS for the current fiscal year.
In related news, SVP John Robert Kline sold 2,700 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $12.12, for a total transaction of $32,724.00. Following the completion of the sale, the senior vice president now owns 96,718 shares of the company’s stock, valued at approximately $1,172,222.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.01% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CECO. Cloverdale Capital Management LLC acquired a new stake in Career Education Corporation during the 2nd quarter worth approximately $7,377,000. Lonestar Capital Management LLC grew its position in Career Education Corporation by 127.4% in the second quarter. Lonestar Capital Management LLC now owns 828,806 shares of the company’s stock valued at $7,957,000 after acquiring an additional 464,290 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Career Education Corporation by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,633,871 shares of the company’s stock valued at $40,315,000 after acquiring an additional 411,878 shares in the last quarter. Mangrove Partners grew its position in Career Education Corporation by 20.2% in the second quarter. Mangrove Partners now owns 1,907,687 shares of the company’s stock valued at $18,314,000 after acquiring an additional 320,464 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Career Education Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,227,015 shares of the company’s stock valued at $28,074,000 after acquiring an additional 195,956 shares in the last quarter. 75.16% of the stock is owned by hedge funds and other institutional investors.
Career Education Corporation Company Profile
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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