OppenheimerFunds Inc. lowered its holdings in Career Education Corp. (NASDAQ:CECO) by 27.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,590 shares of the company’s stock after selling 12,590 shares during the period. OppenheimerFunds Inc.’s holdings in Career Education were worth $394,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cambria Investment Management L.P. purchased a new stake in shares of Career Education in the third quarter valued at $113,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Career Education in the third quarter valued at $126,000. SG Americas Securities LLC purchased a new stake in shares of Career Education in the third quarter valued at $133,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Career Education in the third quarter valued at $133,000. Finally, Aperio Group LLC purchased a new stake in shares of Career Education in the fourth quarter valued at $145,000. Institutional investors own 77.41% of the company’s stock.
Shares of Career Education Corp. (CECO) opened at $13.59 on Friday. The stock has a market capitalization of $950.37, a price-to-earnings ratio of -28.91 and a beta of 2.56. Career Education Corp. has a 1-year low of $8.10 and a 1-year high of $14.33.
Career Education (NASDAQ:CECO) last released its earnings results on Wednesday, February 21st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. Career Education had a positive return on equity of 6.73% and a negative net margin of 5.35%. The company had revenue of $143.12 million during the quarter, compared to analyst estimates of $141.30 million. During the same quarter in the prior year, the company earned ($0.44) earnings per share. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. sell-side analysts forecast that Career Education Corp. will post 0.9 earnings per share for the current fiscal year.
In related news, SVP Jeffrey David Ayers sold 39,141 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $13.89, for a total transaction of $543,668.49. Following the completion of the sale, the senior vice president now directly owns 196,472 shares in the company, valued at $2,728,996.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.01% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on CECO shares. BidaskClub lowered Career Education from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. ValuEngine upgraded Career Education from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.
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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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