Connor Clark & Lunn Investment Management Ltd. Purchases 90,181 Shares of Career Education Corp. (CECO)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Career Education Corp. (NASDAQ:CECO) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,140,019 shares of the company’s stock after acquiring an additional 90,181 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.63% of Career Education worth $17,020,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Career Education by 7.9% in the 3rd quarter. BlackRock Inc. now owns 10,104,062 shares of the company’s stock valued at $150,854,000 after buying an additional 742,938 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Career Education by 4.3% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 6,957,548 shares of the company’s stock valued at $103,876,000 after buying an additional 289,554 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Career Education by 6.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,497,662 shares of the company’s stock valued at $72,727,000 after buying an additional 273,900 shares during the last quarter. FMR LLC boosted its holdings in shares of Career Education by 41.0% in the 3rd quarter. FMR LLC now owns 2,366,933 shares of the company’s stock valued at $35,338,000 after buying an additional 687,761 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Career Education by 9.1% in the 2nd quarter. Northern Trust Corp now owns 839,154 shares of the company’s stock valued at $13,569,000 after buying an additional 70,126 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP John Robert Kline sold 4,700 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $15.00, for a total value of $70,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard D. Wang sold 83,947 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $15.48, for a total value of $1,299,499.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 339,947 shares of company stock worth $5,191,116. 5.01% of the stock is owned by company insiders.

CECO opened at $13.30 on Friday. Career Education Corp. has a 1-year low of $11.38 and a 1-year high of $19.07. The firm has a market capitalization of $922.24 million, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.47 and a beta of 1.75.

Career Education (NASDAQ:CECO) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Career Education had a positive return on equity of 16.59% and a negative net margin of 0.57%. The business had revenue of $146.00 million for the quarter, compared to analysts’ expectations of $146.50 million. During the same quarter in the prior year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts expect that Career Education Corp. will post 0.9 earnings per share for the current year.

Several equities research analysts have recently commented on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $19.50 price objective on shares of Career Education in a report on Thursday, August 2nd. BidaskClub downgraded Career Education from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Zacks Investment Research downgraded Career Education from a “hold” rating to a “sell” rating in a report on Monday, August 6th. Finally, ValuEngine downgraded Career Education from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.83.

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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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Institutional Ownership by Quarter for Career Education (NASDAQ:CECO)

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