Insider Selling: Blum Capital Partners Lp Sells 163,867 Shares of Career Education Corp. Stock (CECO)
Career Education Corp. (NASDAQ:CECO) major shareholder Blum Capital Partners Lp sold 163,867 shares of Career Education Corp. stock on the open market in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $2.69, for a total transaction of $440,802.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of research firms have recently commented on CECO. Analysts at Thomson Reuters/Verus upgraded shares of Career Education Corp. (NASDAQ:CECO) from a “sell” rating to a “hold” rating in a research note to investors on Monday, July 29th.
One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Career Education Corp. presently has an average rating of “Hold” and a consensus price target of $2.80.
Career Education Corp. (NASDAQ:CECO) traded up 2.66% during mid-day trading on Wednesday, hitting $2.70. The stock had a trading volume of 550,284 shares. Career Education Corp. has a 52-week low of $2.03 and a 52-week high of $4.34. The stock’s 50-day moving average is $2.87 and its 200-day moving average is $2.81. The company’s market cap is $181.1 million.
Career Education Corp. (NASDAQ:CECO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.06. The company had revenue of $294.80 million for the quarter, compared to the consensus estimate of $292.33 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, analysts predict that Career Education Corp. will post $-1.20 earnings per share for the current fiscal year.
Career Education Corporation through its colleges, schools and universities offers education to a student population of more than 75,000 students across the world in a variety of career-oriented disciplines through online, on-ground and hybrid learning program offerings.
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