AQR Capital Management LLC Makes New $2.85 Million Investment in Perdoceo Education Corporation (NASDAQ:PRDO)

AQR Capital Management LLC acquired a new position in shares of Perdoceo Education Corporation (NASDAQ:PRDO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 264,410 shares of the company’s stock, valued at approximately $2,853,000. AQR Capital Management LLC owned about 0.38% of Perdoceo Education at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mutual of America Capital Management LLC bought a new stake in Perdoceo Education during the first quarter worth about $33,000. Advisor Group Inc. grew its stake in Perdoceo Education by 1,212.1% during the fourth quarter. Advisor Group Inc. now owns 2,165 shares of the company’s stock worth $40,000 after buying an additional 2,000 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Perdoceo Education during the first quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Perdoceo Education during the first quarter worth approximately $71,000. Finally, Aigen Investment Management LP acquired a new position in shares of Perdoceo Education during the first quarter worth approximately $77,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PRDO opened at $15.68 on Wednesday. The company’s 50 day simple moving average is $15.89 and its 200 day simple moving average is $15.18. Perdoceo Education Corporation has a fifty-two week low of $7.11 and a fifty-two week high of $22.50. The firm has a market capitalization of $1.08 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.69 and a beta of 1.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.60 and a quick ratio of 3.59.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Perdoceo Education had a net margin of 11.59% and a return on equity of 25.42%. The business had revenue of $171.00 million for the quarter, compared to analyst estimates of $161.63 million. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Perdoceo Education Corporation will post 1.51 EPS for the current fiscal year.

In other Perdoceo Education news, SVP Jeffrey David Ayers sold 42,533 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $15.00, for a total value of $637,995.00. Following the completion of the sale, the senior vice president now owns 206,676 shares of the company’s stock, valued at $3,100,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michele A. Peppers sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $16.39, for a total transaction of $81,950.00. Following the completion of the sale, the insider now directly owns 68,184 shares of the company’s stock, valued at approximately $1,117,535.76. The disclosure for this sale can be found here. Insiders sold 48,322 shares of company stock valued at $733,729 in the last ninety days. Insiders own 3.55% of the company’s stock.

A number of equities analysts have recently issued reports on PRDO shares. TheStreet lowered shares of Perdoceo Education from a “b-” rating to a “c+” rating in a research report on Tuesday, March 24th. Zacks Investment Research upgraded shares of Perdoceo Education from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Friday, May 8th. ValuEngine lowered shares of Perdoceo Education from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Finally, Barrington Research upped their target price on shares of Perdoceo Education from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Perdoceo Education presently has a consensus rating of “Buy” and a consensus target price of $19.00.

Perdoceo Education Profile

Perdoceo 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. It operates through three segments: Colorado Technical University, American InterContinental University, and All Other Campuses.

Further Reading: Strangles

Institutional Ownership by Quarter for Perdoceo Education (NASDAQ:PRDO)

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