Chicago Equity Partners LLC lessened its stake in shares of Career Education Corp. (NASDAQ:CECO) by 18.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,770 shares of the company’s stock after selling 14,385 shares during the period. Chicago Equity Partners LLC’s holdings in Career Education were worth $999,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Amalgamated Bank bought a new position in Career Education during the 2nd quarter valued at approximately $179,000. Wedge Capital Management L L P NC bought a new position in Career Education during the 2nd quarter valued at approximately $191,000. Bank of Montreal Can bought a new position in Career Education during the 2nd quarter valued at approximately $193,000. KBC Group NV bought a new position in Career Education during the 2nd quarter valued at approximately $202,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Career Education during the 2nd quarter valued at approximately $226,000. 81.56% of the stock is owned by institutional investors.
CECO has been the subject of a number of analyst reports. BidaskClub lowered Career Education from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. ValuEngine downgraded Career Education from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded Career Education from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, May 16th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $19.50 target price on shares of Career Education in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $18.83.
In other Career Education news, Director Gregory L. Jackson sold 21,828 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $16.46, for a total transaction of $359,288.88. Following the sale, the director now directly owns 62,291 shares in the company, valued at approximately $1,025,309.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michele A. Peppers sold 5,001 shares of the stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $15.97, for a total value of $79,865.97. Following the sale, the insider now owns 54,608 shares in the company, valued at $872,089.76. The disclosure for this sale can be found here. Company insiders own 5.01% of the company’s stock.
Shares of CECO opened at $15.06 on Friday. Career Education Corp. has a 12 month low of $9.00 and a 12 month high of $19.07. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 48.58, a price-to-earnings-growth ratio of 1.83 and a beta of 2.54.
Career Education (NASDAQ:CECO) last issued its earnings results on Wednesday, August 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.08). Career Education had a negative net margin of 2.61% and a positive return on equity of 12.05%. The business had revenue of $142.04 million for the quarter, compared to analysts’ expectations of $141.15 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. equities research analysts anticipate that Career Education Corp. will post 0.87 earnings per share for the current year.
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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