Career Education Corp. (NASDAQ:CECO) SVP Jeffrey David Ayers sold 39,141 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $13.89, for a total transaction of $543,668.49. Following the completion of the transaction, the senior vice president now directly owns 196,472 shares of the company’s stock, valued at approximately $2,728,996.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Career Education Corp. (CECO) opened at $13.77 on Wednesday. Career Education Corp. has a 12 month low of $7.76 and a 12 month high of $14.33. The stock has a market cap of $951.42, a price-to-earnings ratio of 44.42 and a beta of 2.56.
Career Education (NASDAQ:CECO) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. Career Education had a negative net margin of 5.35% and a positive return on equity of 6.73%. The company had revenue of $143.12 million during the quarter, compared to analysts’ expectations of $141.30 million. During the same quarter in the prior year, the company earned ($0.44) EPS. The firm’s revenue was down 7.8% on a year-over-year basis. analysts predict that Career Education Corp. will post 0.9 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Career Education by 40.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 39,860 shares of the company’s stock valued at $414,000 after purchasing an additional 11,442 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Career Education by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 24,350 shares of the company’s stock valued at $253,000 after purchasing an additional 9,020 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Career Education in the 3rd quarter valued at $647,000. Wells Fargo & Company MN boosted its stake in shares of Career Education by 28.8% in the 3rd quarter. Wells Fargo & Company MN now owns 75,962 shares of the company’s stock valued at $789,000 after purchasing an additional 17,004 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Career Education by 8.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 675,983 shares of the company’s stock valued at $8,166,000 after purchasing an additional 52,062 shares in the last quarter. 77.41% of the stock is owned by institutional investors.
A number of research firms have commented on CECO. BidaskClub cut shares of Career Education from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. ValuEngine raised shares of Career Education from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st.
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About Career Education
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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