BNP Paribas Arbitrage SA boosted its stake in shares of Career Education Corporation (NASDAQ:CECO) by 40.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,860 shares of the company’s stock after acquiring an additional 11,442 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.06% of Career Education worth $414,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in Career Education by 1.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,520 shares of the company’s stock worth $101,000 after acquiring an additional 162 shares during the period. Arizona State Retirement System lifted its position in Career Education by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 33,800 shares of the company’s stock worth $324,000 after acquiring an additional 200 shares during the period. Louisiana State Employees Retirement System lifted its position in Career Education by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the company’s stock worth $253,000 after acquiring an additional 200 shares during the period. Texas Permanent School Fund lifted its position in Career Education by 1.6% during the 2nd quarter. Texas Permanent School Fund now owns 47,375 shares of the company’s stock worth $455,000 after acquiring an additional 732 shares during the period. Finally, Northern Trust Corp lifted its position in Career Education by 0.3% during the 2nd quarter. Northern Trust Corp now owns 782,340 shares of the company’s stock worth $7,510,000 after acquiring an additional 2,103 shares during the period. 76.45% of the stock is owned by institutional investors.
Separately, BidaskClub raised Career Education from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 24th.
In other news, SVP John Robert Kline sold 2,700 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $12.12, for a total transaction of $32,724.00. Following the completion of the transaction, the senior vice president now directly owns 96,718 shares of the company’s stock, valued at approximately $1,172,222.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Andrew Hurst sold 3,889 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $12.81, for a total value of $49,818.09. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company’s stock.
Career Education Corporation (CECO) opened at $12.75 on Monday. The stock has a market capitalization of $880.95, a P/E ratio of 53.13 and a beta of 2.70. Career Education Corporation has a one year low of $7.62 and a one year high of $13.92.
Career Education (NASDAQ:CECO) last issued its earnings results on Thursday, November 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $149.10 million. Career Education had a positive return on equity of 4.99% and a negative net margin of 3.35%. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. analysts anticipate that Career Education Corporation will post 0.18 EPS for the current year.
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Career Education Profile
Career Education Corporation, through its colleges, institutions and universities, offers education to students in a range of career-oriented disciplines through online, on-ground and hybrid learning programs. The Company’s American InterContinental University (AIU) and Colorado Technical University (CTU) provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels.
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