Russell Investments Group Ltd. reduced its stake in shares of Career Education Corp. (NASDAQ:CECO) by 72.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,535 shares of the company’s stock after selling 29,897 shares during the quarter. Russell Investments Group Ltd.’s holdings in Career Education were worth $120,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Municipal Employees Retirement System of Michigan increased its stake in Career Education by 58.8% during the third quarter. Municipal Employees Retirement System of Michigan now owns 24,350 shares of the company’s stock worth $253,000 after acquiring an additional 9,020 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Career Education by 40.3% during the third quarter. BNP Paribas Arbitrage SA now owns 39,860 shares of the company’s stock valued at $414,000 after buying an additional 11,442 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Career Education by 0.4% during the third quarter. Frontier Capital Management Co. LLC now owns 6,900,815 shares of the company’s stock valued at $71,699,000 after buying an additional 26,331 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Career Education during the third quarter valued at approximately $133,000. Finally, Fox Run Management L.L.C. grew its stake in shares of Career Education by 135.6% during the third quarter. Fox Run Management L.L.C. now owns 31,800 shares of the company’s stock valued at $330,000 after buying an additional 18,300 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.
Career Education Corp. (NASDAQ CECO) opened at $12.52 on Wednesday. The company has a market capitalization of $847.09, a P/E ratio of -52.17 and a beta of 2.72. Career Education Corp. has a 52 week low of $7.62 and a 52 week high of $13.92.
Separately, BidaskClub cut Career Education from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd.
In other news, SVP Andrew Hurst sold 3,889 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $12.81, for a total transaction of $49,818.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John Robert Kline sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $12.12, for a total value of $32,724.00. Following the transaction, the senior vice president now directly owns 96,718 shares in the company, valued at approximately $1,172,222.16. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company’s stock.
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Career Education Company 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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