BidaskClub upgraded shares of Career Education Corporation (NASDAQ:CECO) from a strong sell rating to a sell rating in a research note published on Thursday morning.
Separately, Piper Jaffray Companies reiterated a hold rating and issued a $13.00 target price on shares of Career Education Corporation in a research note on Friday, July 21st.
Shares of Career Education Corporation (NASDAQ CECO) traded up 1.880% during trading on Thursday, hitting $9.485. 137,607 shares of the stock traded hands. Career Education Corporation has a 52-week low of $6.25 and a 52-week high of $12.59. The stock has a 50 day moving average of $8.90 and a 200 day moving average of $9.24. The firm’s market cap is $655.19 million.
Career Education Corporation (NASDAQ:CECO) last announced its earnings results on Wednesday, August 9th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.11. Career Education Corporation had a positive return on equity of 3.73% and a negative net margin of 3.82%. The company had revenue of $146.20 million for the quarter, compared to the consensus estimate of $147.80 million. During the same period last year, the business posted $0.17 EPS. The company’s revenue was down 19.9% on a year-over-year basis. Analysts expect that Career Education Corporation will post $0.18 EPS for the current year.
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In other Career Education Corporation news, Director Gregory L. Jackson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $8.78 per share, for a total transaction of $87,800.00. Following the completion of the purchase, the director now directly owns 30,866 shares in the company, valued at $271,003.48. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.88% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Cloverdale Capital Management LLC acquired a new stake in Career Education Corporation during the second quarter worth $7,377,000. Lonestar Capital Management LLC increased its stake in Career Education Corporation by 127.4% in the second quarter. Lonestar Capital Management LLC now owns 828,806 shares of the company’s stock worth $7,957,000 after buying an additional 464,290 shares during the period. Renaissance Technologies LLC increased its stake in Career Education Corporation by 10.6% in the first quarter. Renaissance Technologies LLC now owns 4,727,962 shares of the company’s stock worth $41,133,000 after buying an additional 453,500 shares during the period. Dimensional Fund Advisors LP increased its stake in Career Education Corporation by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,633,871 shares of the company’s stock worth $40,315,000 after buying an additional 411,878 shares during the period. Finally, Mangrove Partners increased its stake in Career Education Corporation by 20.2% in the second quarter. Mangrove Partners now owns 1,907,687 shares of the company’s stock worth $18,314,000 after buying an additional 320,464 shares during the period. Hedge funds and other institutional investors own 74.70% of the company’s stock.
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.
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