Insider Buying: Scott W. Steffey Purchases 16,000 Shares of Career Education Corp. Stock (CECO)
Career Education Corp. (NASDAQ:CECO) CEO Scott W. Steffey bought 16,000 shares of the stock on the open market in a transaction dated Friday, June 6th. The shares were purchased at an average price of $4.65 per share, with a total value of $74,400.00. Following the purchase, the chief executive officer now directly owns 151,092 shares in the company, valued at approximately $702,578. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Career Education Corp. (NASDAQ:CECO) traded up 2.44% during mid-day trading on Tuesday, hitting $5.03. 1,225,286 shares of the company’s stock traded hands. Career Education Corp. has a one year low of $2.46 and a one year high of $7.93. The stock has a 50-day moving average of $5.64 and a 200-day moving average of $6.03. The company’s market cap is $338.1 million.
Career Education Corp. (NASDAQ:CECO) last announced its earnings results on Thursday, May 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by $0.45. The company had revenue of $243.10 million for the quarter, compared to the consensus estimate of $253.54 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, analysts predict that Career Education Corp. will post $-1.79 earnings per share for the current fiscal year.
A number of research firms have recently commented on CECO. Analysts at Zacks upgraded shares of Career Education Corp. from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 29th. They now have a $4.70 price target on the stock. Separately, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Career Education Corp. in a research note on Tuesday, May 13th. Finally, analysts at BMO Capital Markets cut their price target on shares of Career Education Corp. from $8.00 to $5.00 in a research note on Friday, May 9th.
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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