Career Education Corp. (CECO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Career Education Corp. (NASDAQ:CECO) by 18.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 89,450 shares of the company’s stock after selling 20,592 shares during the quarter. JPMorgan Chase & Co.’s holdings in Career Education were worth $942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Frontier Capital Management Co. LLC grew its holdings in Career Education by 0.4% in 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 purchasing an additional 26,331 shares during the period. Vanguard Group Inc. grew its holdings in Career Education by 4.1% in the second quarter. Vanguard Group Inc. now owns 3,359,052 shares of the company’s stock valued at $32,247,000 after purchasing an additional 132,037 shares during the period. Mangrove Partners grew its holdings in Career Education by 20.2% in the second 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 period. State Street Corp grew its holdings in Career Education by 1.9% in the second 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 period. Finally, Lonestar Capital Management LLC grew its holdings in Career Education by 127.4% in the second 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 period. 76.41% of the stock is currently owned by institutional investors.

Shares of Career Education Corp. (NASDAQ:CECO) opened at $12.63 on Friday. The stock has a market capitalization of $872.66, a P/E ratio of 52.63 and a beta of 2.72. Career Education Corp. has a 12 month low of $7.62 and a 12 month high of $13.92.

Career Education (NASDAQ:CECO) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The firm had revenue of $145.00 million for the quarter, compared to analyst estimates of $149.10 million. Career Education had a positive return on equity of 4.99% and a negative net margin of 3.35%. The business’s revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. research analysts predict that Career Education Corp. will post 0.25 EPS for the current fiscal year.

Separately, BidaskClub lowered Career Education from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th.

In other news, SVP John Robert Kline sold 2,700 shares of Career Education stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $12.12, for a total value of $32,724.00. Following the sale, the senior vice president now directly owns 96,718 shares of the company’s stock, valued at $1,172,222.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew Hurst sold 3,889 shares of Career Education stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $12.81, for a total value of $49,818.09. The disclosure for this sale can be found here. Insiders own 5.01% of the company’s stock.

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About Career Education

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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Institutional Ownership by Quarter for Career Education (NASDAQ:CECO)

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