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.
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.
COPYRIGHT VIOLATION WARNING: “Arizona State Retirement System Boosts Position in Career Education Corp. (NASDAQ:CECO)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/04/07/career-education-corp-ceco-stake-increased-by-arizona-state-retirement-system.html.
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.
Receive News & Ratings for Career Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Career Education and related companies with MarketBeat.com's FREE daily email newsletter.