Deutsche Bank AG reduced its position in Career Education Co. (NASDAQ:CECO) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,063 shares of the company’s stock after selling 25,556 shares during the period. Deutsche Bank AG owned 0.44% of Career Education worth $3,646,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Career Education by 2.1% in the fourth quarter. BlackRock Inc. now owns 8,413,987 shares of the company’s stock worth $101,642,000 after buying an additional 169,974 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Career Education by 8.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 675,983 shares of the company’s stock worth $8,166,000 after acquiring an additional 52,062 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Career Education by 6.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 542,648 shares of the company’s stock worth $6,555,000 after acquiring an additional 31,728 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Career Education during the fourth quarter worth approximately $5,392,000. Finally, Cortina Asset Management LLC bought a new stake in Career Education during the fourth quarter worth approximately $3,609,000. Institutional investors own 77.42% of the company’s stock.
Several equities research analysts have weighed in on the company. Sidoti assumed coverage on Career Education in a research note on Wednesday. They set a “buy” rating and a $21.00 price objective on the stock. BidaskClub cut Career Education from a “hold” rating to a “sell” rating in a research note on Friday, April 13th. Finally, ValuEngine raised Career Education from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st.
In other news, SVP Jeffrey David Ayers sold 39,141 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 196,472 shares of the company’s stock, valued at $2,728,996.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.01% of the company’s stock.
Shares of NASDAQ CECO opened at $13.74 on Thursday. Career Education Co. has a 1-year low of $8.10 and a 1-year high of $14.33. The company has a market cap of $901.30, a price-to-earnings ratio of 44.32 and a beta of 2.73.
Career Education (NASDAQ:CECO) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.12 earnings per share for the quarter, topping 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 company had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $141.30 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. equities analysts predict that Career Education Co. 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.
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