Zebra Capital Management LLC boosted its holdings in Career Education Corp. (NASDAQ:CECO) by 42.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,558 shares of the company’s stock after acquiring an additional 14,863 shares during the quarter. Zebra Capital Management LLC owned 0.07% of Career Education worth $801,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CECO. Schwab Charles Investment Management Inc. increased its position in shares of Career Education by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 672,732 shares of the company’s stock valued at $10,879,000 after purchasing an additional 3,768 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Career Education by 29.0% during the 2nd quarter. SG Americas Securities LLC now owns 18,841 shares of the company’s stock valued at $305,000 after purchasing an additional 4,241 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Career Education by 15.8% during the 1st quarter. MetLife Investment Advisors LLC now owns 31,150 shares of the company’s stock worth $409,000 after acquiring an additional 4,261 shares during the last quarter. Northern Trust Corp grew its position in Career Education by 0.8% during the 1st quarter. Northern Trust Corp now owns 769,028 shares of the company’s stock worth $10,105,000 after acquiring an additional 5,822 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Career Education by 54.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,398 shares of the company’s stock worth $330,000 after acquiring an additional 7,151 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.
In related news, Director Gregory L. Jackson sold 21,828 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 62,291 shares of the company’s stock, valued at approximately $1,025,309.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John Robert Kline sold 4,700 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $15.00, for a total value of $70,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 365,476 shares of company stock valued at $5,611,654. 5.70% of the stock is currently owned by company insiders.
Career Education (NASDAQ:CECO) last released its quarterly earnings data on Wednesday, August 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.08). The business had revenue of $142.04 million during the quarter, compared to analysts’ expectations of $141.15 million. Career Education had a positive return on equity of 12.05% and a negative net margin of 2.61%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. As a group, sell-side analysts forecast that Career Education Corp. will post 0.87 earnings per share for the current year.
Several research firms recently issued reports on CECO. BidaskClub lowered Career Education from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Piper Jaffray Companies restated a “hold” rating and set a $19.50 price target on shares of Career Education in a research report on Thursday, August 2nd. Zacks Investment Research lowered Career Education from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Finally, ValuEngine lowered Career Education from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.83.
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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