Renaissance Technologies LLC reduced its stake in shares of Career Education Corp. (NASDAQ:CECO) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,193,362 shares of the company’s stock after selling 242,300 shares during the quarter. Renaissance Technologies LLC owned approximately 6.07% of Career Education worth $50,656,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Career Education by 2.1% during the fourth quarter. BlackRock Inc. now owns 8,413,987 shares of the company’s stock valued at $101,642,000 after acquiring an additional 169,974 shares in the last quarter. Mangrove Partners increased its holdings in shares of Career Education by 32.4% during the third quarter. Mangrove Partners now owns 2,526,019 shares of the company’s stock valued at $26,245,000 after acquiring an additional 618,332 shares in the last quarter. State Street Corp increased its holdings in shares of Career Education by 1.9% during the second quarter. State Street Corp now owns 1,634,786 shares of the company’s stock valued at $15,693,000 after acquiring an additional 30,668 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Career Education by 8.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 675,983 shares of the company’s stock valued at $8,166,000 after buying an additional 52,062 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Career Education by 6.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 542,648 shares of the company’s stock valued at $6,555,000 after buying an additional 31,728 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.
Shares of CECO stock traded down $0.15 during trading hours on Friday, hitting $13.00. 127,113 shares of the company’s stock were exchanged, compared to its average volume of 248,250. The company has a market cap of $904.75, a price-to-earnings ratio of 41.94 and a beta of 2.73. Career Education Corp. has a fifty-two week low of $8.10 and a fifty-two week high of $14.33.
Career Education (NASDAQ:CECO) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $143.12 million during the quarter, compared to the consensus estimate of $141.30 million. During the same period in the prior year, the company earned ($0.44) EPS. The firm’s revenue was down 7.8% compared to the same quarter last year. research analysts forecast that Career Education Corp. will post 0.9 EPS for the current year.
A number of brokerages recently commented on CECO. ValuEngine upgraded Career Education from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. BidaskClub upgraded Career Education from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd.
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 value of $543,668.49. Following the completion of the transaction, the senior vice president now directly owns 196,472 shares of the company’s stock, valued at approximately $2,728,996.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.01% of the stock is currently owned by corporate insiders.
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Career Education 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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