Career Education Corp. (NASDAQ:CECO) Sees Significant Growth in Short Interest

Career Education Corp. (NASDAQ:CECO) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 1,496,600 shares, a growth of 12.1% from the May 30th total of 1,335,200 shares. Based on an average daily trading volume, of 628,100 shares, the short-interest ratio is presently 2.4 days. Approximately 2.2% of the company’s shares are short sold.

Several research firms have weighed in on CECO. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. BidaskClub lowered shares of Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Sidoti set a $24.00 target price on shares of Career Education and gave the stock a “buy” rating in a report on Friday, June 7th. Barrington Research set a $5.00 target price on shares of Payment Data Systems and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, TheStreet upgraded shares of Social Reality from a “d+” rating to a “c-” rating in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Career Education presently has a consensus rating of “Hold” and an average target price of $21.38.

CECO opened at $19.89 on Tuesday. The stock has a fifty day moving average price of $19.29. The company has a current ratio of 3.05, a quick ratio of 3.04 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.35 and a beta of 1.54. Career Education has a twelve month low of $11.01 and a twelve month high of $20.39.

Career Education (NASDAQ:CECO) last posted its earnings results on Wednesday, May 8th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Career Education had a net margin of 10.57% and a return on equity of 21.14%. The company had revenue of $157.85 million for the quarter, compared to analyst estimates of $154.07 million. During the same period last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts forecast that Career Education will post 1.17 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Career Education by 0.4% during the fourth quarter. BlackRock Inc. now owns 10,142,220 shares of the company’s stock worth $115,823,000 after acquiring an additional 38,158 shares during the period. FMR LLC raised its holdings in shares of Career Education by 13.9% during the first quarter. FMR LLC now owns 3,134,862 shares of the company’s stock worth $51,788,000 after acquiring an additional 382,842 shares during the period. SG Capital Management LLC raised its holdings in shares of Career Education by 37.7% during the first quarter. SG Capital Management LLC now owns 1,447,860 shares of the company’s stock worth $23,919,000 after acquiring an additional 396,658 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Career Education by 13.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,432,266 shares of the company’s stock worth $16,356,000 after acquiring an additional 165,977 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Career Education by 9.4% during the fourth quarter. Bank of New York Mellon Corp now owns 836,693 shares of the company’s stock worth $9,554,000 after acquiring an additional 72,079 shares during the period. Institutional investors and hedge funds own 82.92% of the company’s stock.

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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