Arizona State Retirement System Boosts Position in Career Education Corp. (NASDAQ:CECO)

Arizona State Retirement System grew its position in Career Education Corp. (NASDAQ:CECO) by 223.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,323 shares of the company’s stock after buying an additional 76,223 shares during the period. Arizona State Retirement System owned approximately 0.16% of Career Education worth $1,333,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CECO. Cambria Investment Management L.P. acquired a new position in shares of Career Education in the 3rd quarter valued at $113,000. Cubist Systematic Strategies LLC acquired a new position in shares of Career Education in the 3rd quarter valued at $126,000. SG Americas Securities LLC acquired a new position in shares of Career Education in the 3rd quarter valued at $133,000. Crossmark Global Holdings Inc. acquired a new position in shares of Career Education in the 3rd quarter valued at $133,000. Finally, Aperio Group LLC acquired a new position in shares of Career Education in the 4th quarter valued at $145,000. 77.41% of the stock is owned by institutional investors.

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Several brokerages have recently issued reports on CECO. BidaskClub raised shares of Career Education from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. ValuEngine raised shares of Career Education from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.

In related news, SVP Jeffrey David Ayers sold 39,141 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $13.89, for a total value of $543,668.49. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.01% of the company’s stock.

CECO traded down $0.15 during trading on Friday, hitting $13.00. The company had a trading volume of 127,113 shares, compared to its average volume of 212,788. The stock has a market capitalization of $908.90, a P/E ratio of 41.94 and a beta of 2.73. Career Education Corp. has a one year low of $8.10 and a one year 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 consensus estimate of $0.05 by $0.07. The business had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $141.30 million. Career Education had a negative net margin of 5.35% and a positive return on equity of 6.73%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.44) EPS. equities research analysts predict that Career Education Corp. will post 0.9 EPS for the current fiscal year.

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About Career Education

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.

Institutional Ownership by Quarter for Career Education (NASDAQ:CECO)

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