SG Capital Management LLC raised its stake in shares of Career Education Corp. (NASDAQ:CECO) by 37.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,447,860 shares of the company’s stock after buying an additional 396,658 shares during the quarter. Career Education comprises 4.4% of SG Capital Management LLC’s portfolio, making the stock its 2nd largest holding. SG Capital Management LLC owned approximately 2.07% of Career Education worth $23,919,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of CECO. Oregon Public Employees Retirement Fund purchased a new position in Career Education during the 4th quarter valued at about $27,000. LS Investment Advisors LLC grew its holdings in shares of Career Education by 373.0% during the fourth quarter. LS Investment Advisors LLC now owns 9,371 shares of the company’s stock worth $107,000 after purchasing an additional 7,390 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Career Education during the fourth quarter worth about $120,000. Amalgamated Bank purchased a new position in shares of Career Education during the fourth quarter worth about $125,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Career Education during the fourth quarter worth about $174,000. 80.96% of the stock is owned by institutional investors and hedge funds.
CECO traded down $0.04 during midday trading on Tuesday, hitting $17.62. The stock had a trading volume of 7,185 shares, compared to its average volume of 387,134. The firm has a market cap of $1.23 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.25 and a beta of 1.67. Career Education Corp. has a 1 year low of $11.01 and a 1 year high of $19.07.
In other Career Education news, SVP Jeffrey David Ayers sold 10,903 shares of the business’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $13.00, for a total value of $141,739.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Robert Kline sold 4,700 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $15.20, for a total value of $71,440.00. The disclosure for this sale can be found here. Insiders sold 26,521 shares of company stock valued at $352,820 in the last quarter. Corporate insiders own 5.58% of the company’s stock.
Several brokerages have issued reports on CECO. Zacks Investment Research lowered Career Education from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. Barrington Research reaffirmed a “buy” rating and issued a $18.00 target price on shares of Career Education in a research note on Thursday, February 7th. ValuEngine raised Career Education from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Finally, BidaskClub raised Career Education from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $20.13.
Career Education Profile
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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