UBS Asset Management Americas Inc. boosted its stake in Career Education Corporation (NASDAQ:CECO) by 36.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 29,157 shares of the company’s stock after buying an additional 7,857 shares during the period. UBS Asset Management Americas Inc.’s holdings in Career Education Corporation were worth $254,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. James Investment Research Inc. bought a new position in shares of Career Education Corporation during the first quarter valued at about $2,857,000. Comerica Bank raised its position in shares of Career Education Corporation by 3.9% in the first quarter. Comerica Bank now owns 71,190 shares of the company’s stock valued at $729,000 after buying an additional 2,651 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Career Education Corporation by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 26,200 shares of the company’s stock valued at $228,000 after buying an additional 300 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Career Education Corporation during the fourth quarter valued at about $1,027,000. Finally, Wells Fargo & Company MN raised its position in shares of Career Education Corporation by 41.4% in the first quarter. Wells Fargo & Company MN now owns 194,845 shares of the company’s stock valued at $1,695,000 after buying an additional 57,008 shares during the period. 74.84% of the stock is currently owned by hedge funds and other institutional investors.
Career Education Corporation (CECO) traded up 1.41% during mid-day trading on Friday, reaching $8.61. 342,376 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $9.08 and its 200 day moving average price is $9.31. The firm’s market cap is $594.31 million. Career Education Corporation has a one year low of $6.25 and a one year high of $12.59.
Career Education Corporation (NASDAQ:CECO) last posted its earnings results on Wednesday, August 9th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11. Career Education Corporation had a negative net margin of 3.82% and a positive return on equity of 3.73%. The firm had revenue of $146.20 million for the quarter, compared to the consensus estimate of $147.80 million. During the same period in the previous year, the firm posted $0.17 EPS. The business’s quarterly revenue was down 19.9% on a year-over-year basis. On average, equities analysts forecast that Career Education Corporation will post $0.07 EPS for the current year.
Several research analysts recently issued reports on CECO shares. Piper Jaffray Companies reiterated a “hold” rating and issued a $13.00 target price on shares of Career Education Corporation in a research report on Friday, July 21st. BidaskClub lowered shares of Career Education Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th.
About Career Education Corporation
Career Education Corporation, through its colleges, institutions and universities, offers education to students in a range of career-oriented disciplines through online, on-ground and hybrid learning programs. The Company’s American InterContinental University (AIU) and Colorado Technical University (CTU) provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels.
Receive News & Ratings for Career Education Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Career Education Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
