Ritholtz Wealth Management Acquires 60,839 Shares of Perdoceo Education Corporation $PRDO

Ritholtz Wealth Management boosted its holdings in shares of Perdoceo Education Corporation (NASDAQ:PRDO) by 645.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,263 shares of the company’s stock after acquiring an additional 60,839 shares during the period. Ritholtz Wealth Management owned approximately 0.11% of Perdoceo Education worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Perdoceo Education during the second quarter worth about $38,000. Nykredit A S bought a new position in shares of Perdoceo Education during the 2nd quarter valued at about $40,000. Meeder Asset Management Inc. bought a new position in shares of Perdoceo Education during the 1st quarter valued at about $83,000. Global Retirement Partners LLC acquired a new position in shares of Perdoceo Education in the 2nd quarter valued at approximately $96,000. Finally, Inspire Investing LLC grew its position in shares of Perdoceo Education by 26.1% in the 3rd quarter. Inspire Investing LLC now owns 4,123 shares of the company’s stock valued at $128,000 after purchasing an additional 853 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Todd Nelson sold 46,199 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $32.89, for a total value of $1,519,485.11. Following the completion of the transaction, the chief executive officer owned 301,782 shares of the company’s stock, valued at approximately $9,925,609.98. This trade represents a 13.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.46% of the stock is owned by company insiders.

Perdoceo Education Price Performance

Shares of PRDO traded down $0.14 during midday trading on Friday, hitting $28.99. The stock had a trading volume of 553,279 shares, compared to its average volume of 678,901. The company has a 50 day simple moving average of $31.70 and a two-hundred day simple moving average of $33.18. Perdoceo Education Corporation has a twelve month low of $26.24 and a twelve month high of $38.50. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 0.61 and a beta of 0.76.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $215.86 million for the quarter, compared to analyst estimates of $211.07 million. Perdoceo Education had a return on equity of 19.26% and a net margin of 21.06%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. Analysts forecast that Perdoceo Education Corporation will post 3.17 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be issued a $0.17 dividend. The ex-dividend date is Friday, November 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.3%. Perdoceo Education’s dividend payout ratio (DPR) is 23.94%.

Analyst Ratings Changes

A number of research firms recently issued reports on PRDO. Wall Street Zen raised Perdoceo Education from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Perdoceo Education in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Perdoceo Education has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Perdoceo Education Profile

Perdoceo Education Corporation provides postsecondary education through Colorado Technical University (CTU) and American InterContinental University (AIU). The institutions offer undergraduate and graduate degree programs, as well as certificates, in fields including business, technology, healthcare, and criminal justice. Both universities deliver much of their instruction online and also maintain campus locations. Their programs are designed to serve working adults and other students seeking flexible study options, primarily in the United States.