Genesee Capital Advisors LLC Cuts Position in Career Education Corp. (NASDAQ:CECO)

Genesee Capital Advisors LLC lessened its stake in Career Education Corp. (NASDAQ:CECO) by 9.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,566 shares of the company’s stock after selling 7,845 shares during the quarter. Career Education accounts for 1.2% of Genesee Capital Advisors LLC’s investment portfolio, making the stock its 26th largest position. Genesee Capital Advisors LLC owned approximately 0.10% of Career Education worth $1,352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CECO. Vanguard Group Inc. grew its stake in Career Education by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 4,296,000 shares of the company’s stock valued at $81,925,000 after acquiring an additional 27,493 shares during the last quarter. FMR LLC grew its stake in Career Education by 13.9% in the 1st quarter. FMR LLC now owns 3,134,862 shares of the company’s stock valued at $51,788,000 after acquiring an additional 382,842 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Career Education during the 2nd quarter worth about $25,452,000. Millennium Management LLC boosted its stake in shares of Career Education by 226.1% during the 3rd quarter. Millennium Management LLC now owns 1,024,596 shares of the company’s stock worth $16,280,000 after purchasing an additional 710,414 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Career Education by 0.9% during the 2nd quarter. Northern Trust Corp now owns 923,315 shares of the company’s stock worth $17,607,000 after purchasing an additional 8,538 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Shares of Career Education stock traded up $0.04 during mid-day trading on Tuesday, hitting $18.39. Career Education Corp. has a 1-year low of $11.19 and a 1-year high of $22.50. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 0.85 and a beta of 1.52. The firm has a 50-day moving average price of $17.74 and a 200 day moving average price of $18.03. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.14.

Career Education (NASDAQ:CECO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Career Education had a net margin of 9.20% and a return on equity of 26.01%. The company had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $146.70 million. During the same period last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts expect that Career Education Corp. will post 1.36 earnings per share for the current year.

In related news, SVP Jeffrey David Ayers sold 9,099 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $15.98, for a total value of $145,402.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.58% of the stock is currently owned by company insiders.

Several equities research analysts have issued reports on the stock. BidaskClub raised shares of Career Education from a “hold” rating to a “buy” rating in a research note on Wednesday, December 18th. ValuEngine cut shares of Career Education from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Barrington Research reaffirmed a “buy” rating and set a $26.00 price target on shares of Career Education in a research note on Thursday, October 10th. TheStreet raised shares of Career Education from a “c” rating to a “b-” rating in a research note on Friday, November 8th. Finally, Zacks Investment Research raised shares of Career Education from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $22.33.

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.

Further Reading: Gross Domestic Product (GDP)

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

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