Career Education Corp. (NASDAQ:CECO) Director Richard D. Wang sold 83,947 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $15.48, for a total transaction of $1,299,499.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
NASDAQ CECO traded up $0.01 during trading hours on Friday, reaching $15.07. 333,700 shares of the company traded hands, compared to its average volume of 342,796. Career Education Corp. has a 12 month low of $9.00 and a 12 month high of $19.07. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 48.58, a price-to-earnings-growth ratio of 1.77 and a beta of 2.54.
Career Education (NASDAQ:CECO) last issued its earnings results on Wednesday, August 1st. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.08). The business had revenue of $142.04 million for the quarter, compared to analyst estimates of $141.15 million. Career Education had a positive return on equity of 12.05% and a negative net margin of 2.61%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share. research analysts predict that Career Education Corp. will post 0.87 EPS for the current fiscal year.
CECO has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Career Education from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, May 16th. ValuEngine upgraded shares of Career Education from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 22nd. BidaskClub upgraded shares of Career Education from a “sell” rating to a “hold” rating in a research note on Wednesday, May 30th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $19.50 price objective on shares of Career Education in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.83.
Several large investors have recently modified their holdings of CECO. First Mercantile Trust Co. raised its holdings in shares of Career Education by 96.7% during the first quarter. First Mercantile Trust Co. now owns 33,171 shares of the company’s stock worth $436,000 after purchasing an additional 16,307 shares during the period. Northern Trust Corp raised its holdings in shares of Career Education by 0.8% during the first quarter. Northern Trust Corp now owns 769,028 shares of the company’s stock worth $10,105,000 after purchasing an additional 5,822 shares during the period. BlackRock Inc. raised its holdings in shares of Career Education by 1.6% during the first quarter. BlackRock Inc. now owns 8,545,486 shares of the company’s stock worth $112,287,000 after purchasing an additional 131,499 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Career Education by 14.6% during the first quarter. JPMorgan Chase & Co. now owns 175,219 shares of the company’s stock worth $2,302,000 after purchasing an additional 22,389 shares during the period. Finally, Cambria Investment Management L.P. raised its holdings in shares of Career Education by 225.0% during the first quarter. Cambria Investment Management L.P. now owns 35,489 shares of the company’s stock worth $466,000 after purchasing an additional 24,570 shares during the period. 81.56% of the stock is currently owned by institutional investors.
About Career Education
Career Education Corporation operates colleges, institutions, and universities that provide education to student population in various career-oriented disciplines through online, campus based, and blended learning programs in the United States. The company operates through three segments: Colorado Technical University (CTU), American InterContinental University (AIU), and All Other Campuses.
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