Fox Run Management L.L.C. lifted its stake in shares of Career Education Corporation (NASDAQ:CECO) by 135.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,800 shares of the company’s stock after buying an additional 18,300 shares during the quarter. Fox Run Management L.L.C.’s holdings in Career Education Corporation were worth $330,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new stake in shares of Career Education Corporation during the 2nd quarter worth approximately $135,000. The Manufacturers Life Insurance Company raised its position in Career Education Corporation by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,795 shares of the company’s stock valued at $526,000 after purchasing an additional 2,266 shares during the last quarter. State Street Corp raised its position in Career Education Corporation by 1.9% in the 2nd quarter. State Street Corp now owns 1,634,786 shares of the company’s stock valued at $15,693,000 after purchasing an additional 30,668 shares during the last quarter. Mangrove Partners raised its position in Career Education Corporation by 20.2% in the 2nd quarter. Mangrove Partners now owns 1,907,687 shares of the company’s stock valued at $18,314,000 after purchasing an additional 320,464 shares during the last quarter. Finally, Lonestar Capital Management LLC raised its position in Career Education Corporation by 127.4% in the 2nd quarter. Lonestar Capital Management LLC now owns 828,806 shares of the company’s stock valued at $7,957,000 after purchasing an additional 464,290 shares during the last quarter. Institutional investors and hedge funds own 75.29% of the company’s stock.
In other news, Director Gregory L. Jackson acquired 10,000 shares of Career Education Corporation stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $8.78 per share, for a total transaction of $87,800.00. Following the completion of the purchase, the director now directly owns 30,866 shares of the company’s stock, valued at approximately $271,003.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.
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Several analysts recently commented on CECO shares. BidaskClub downgraded shares of Career Education Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Piper Jaffray Companies reiterated a “hold” rating and issued a $13.00 price target on shares of Career Education Corporation in a research report on Friday, July 21st.
Career Education Corporation (NASDAQ:CECO) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Career Education Corporation had a positive return on equity of 3.73% and a negative net margin of 3.82%. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $149.10 million. During the same period last year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis.
Career Education Corporation Profile
Career Education Corporation, through its colleges, institutions and universities, offers education to students in a range of career-oriented disciplines through online, on-ground and hybrid learning programs. The Company’s American InterContinental University (AIU) and Colorado Technical University (CTU) provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels.
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