Career Education Corp. (NASDAQ:CECO) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 848,108 shares, a drop of 26.1% from the February 15th total of 1,148,041 shares. Based on an average daily volume of 596,003 shares, the short-interest ratio is currently 1.4 days. Approximately 1.2% of the company’s shares are short sold.
In related news, SVP John Robert Kline sold 4,700 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $15.20, for a total transaction of $71,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey David Ayers sold 10,903 shares of the stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $13.00, for a total transaction of $141,739.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,521 shares of company stock valued at $352,820 in the last ninety days. 5.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. LS Investment Advisors LLC lifted its holdings in Career Education by 373.0% during the 4th quarter. LS Investment Advisors LLC now owns 9,371 shares of the company’s stock worth $107,000 after buying an additional 7,390 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Career Education during the 3rd quarter worth approximately $155,000. Hsbc Holdings PLC acquired a new stake in Career Education during the 4th quarter worth approximately $120,000. Amalgamated Bank acquired a new stake in Career Education during the 4th quarter worth approximately $125,000. Finally, Trexquant Investment LP acquired a new stake in Career Education during the 3rd quarter worth approximately $193,000. Institutional investors own 80.97% of the company’s stock.
A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of Career Education from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Zacks Investment Research raised shares of Career Education from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Friday, February 22nd. ValuEngine raised shares of Career Education from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. Finally, Barrington Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of Career Education in a research report on Thursday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Career Education presently has an average rating of “Buy” and an average target price of $19.13.
Career Education stock opened at $16.54 on Friday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.14 and a beta of 1.68. Career Education has a 52-week low of $11.01 and a 52-week high of $19.07.
Career Education (NASDAQ:CECO) last released its earnings results on Wednesday, February 20th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. The company had revenue of $145.50 million for the quarter, compared to analyst estimates of $144.63 million. Career Education had a net margin of 9.49% and a return on equity of 19.78%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. Equities analysts predict that Career Education will post 1.14 earnings per share for the current year.
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Career Education Company Profile
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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