Balyasny Asset Management L.P. Grows Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Balyasny Asset Management L.P. increased its position in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,931 shares of the company’s stock after purchasing an additional 1,572 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Perdoceo Education were worth $528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRDO. Barclays PLC boosted its holdings in Perdoceo Education by 353.5% during the third quarter. Barclays PLC now owns 110,622 shares of the company’s stock worth $2,460,000 after purchasing an additional 86,227 shares during the last quarter. Inspire Investing LLC bought a new stake in Perdoceo Education in the fourth quarter worth about $818,000. Exchange Traded Concepts LLC raised its position in Perdoceo Education by 3.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 207,635 shares of the company’s stock worth $5,496,000 after acquiring an additional 6,265 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Perdoceo Education by 13.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,995 shares of the company’s stock worth $344,000 after acquiring an additional 1,503 shares during the period. Finally, KBC Group NV raised its position in Perdoceo Education by 47.5% in the fourth quarter. KBC Group NV now owns 3,696 shares of the company’s stock worth $98,000 after acquiring an additional 1,190 shares during the period. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com lowered shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 5th. Barrington Research lifted their price objective on shares of Perdoceo Education from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd.

Insider Activity

In other news, CEO Todd S. Nelson sold 38,984 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $24.66, for a total value of $961,345.44. Following the sale, the chief executive officer now owns 644,047 shares of the company’s stock, valued at $15,882,199.02. The trade was a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ashish R. Ghia sold 6,236 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $25.00, for a total transaction of $155,900.00. Following the completion of the sale, the chief financial officer now directly owns 252,130 shares in the company, valued at approximately $6,303,250. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,820 shares of company stock valued at $3,296,615 over the last quarter. Company insiders own 2.11% of the company’s stock.

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $31.22 on Friday. The firm’s 50-day simple moving average is $26.35 and its two-hundred day simple moving average is $26.55. Perdoceo Education Co. has a 52 week low of $20.23 and a 52 week high of $32.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.45 and a current ratio of 4.84. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.75 and a beta of 0.79.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Perdoceo Education had a net margin of 21.66% and a return on equity of 16.85%. The company had revenue of $213.00 million for the quarter, compared to analyst estimates of $207.97 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities analysts forecast that Perdoceo Education Co. will post 2.41 earnings per share for the current year.

Perdoceo Education Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Sunday, June 1st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, May 30th. Perdoceo Education’s dividend payout ratio (DPR) is currently 23.01%.

Perdoceo Education Company Profile

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.