Kennondale Capital Management LLC Makes New $2.56 Million Investment in Perdoceo Education Co. (NASDAQ:PRDO)

Kennondale Capital Management LLC acquired a new stake in Perdoceo Education Co. (NASDAQ:PRDO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 96,642 shares of the company’s stock, valued at approximately $2,558,000. Perdoceo Education makes up about 2.1% of Kennondale Capital Management LLC’s portfolio, making the stock its 7th largest holding. Kennondale Capital Management LLC owned approximately 0.15% of Perdoceo Education at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Perdoceo Education by 71.3% in the third quarter. Victory Capital Management Inc. now owns 73,819 shares of the company’s stock valued at $1,642,000 after acquiring an additional 30,725 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Perdoceo Education in the third quarter valued at $9,374,000. Geode Capital Management LLC raised its stake in shares of Perdoceo Education by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,803,391 shares of the company’s stock valued at $40,114,000 after acquiring an additional 33,092 shares in the last quarter. Quest Partners LLC raised its stake in shares of Perdoceo Education by 1,107.5% in the third quarter. Quest Partners LLC now owns 22,012 shares of the company’s stock valued at $490,000 after acquiring an additional 20,189 shares in the last quarter. Finally, Barclays PLC increased its holdings in Perdoceo Education by 353.5% in the third quarter. Barclays PLC now owns 110,622 shares of the company’s stock valued at $2,460,000 after buying an additional 86,227 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP John Robert Kline sold 12,148 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $25.79, for a total transaction of $313,296.92. Following the completion of the sale, the senior vice president now owns 130,405 shares in the company, valued at approximately $3,363,144.95. This represents a 8.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd S. Nelson sold 12,472 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $26.29, for a total transaction of $327,888.88. Following the sale, the chief executive officer now owns 615,697 shares of the company’s stock, valued at $16,186,674.13. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.81% of the company’s stock.

Analyst Upgrades and Downgrades

PRDO has been the topic of several recent analyst reports. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Barrington Research increased their target price on Perdoceo Education from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th.

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $24.91 on Tuesday. The stock’s 50-day moving average is $26.97 and its two-hundred day moving average is $25.09. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.75 and a beta of 1.04. Perdoceo Education Co. has a 1 year low of $16.56 and a 1 year high of $29.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.45 and a current ratio of 4.84.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $176.43 million for the quarter, compared to analyst estimates of $160.12 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. Analysts predict that Perdoceo Education Co. will post 2.41 earnings per share for the current year.

Perdoceo Education Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Saturday, March 1st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, February 28th. Perdoceo Education’s payout ratio is 23.64%.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.