Career Education Corp. (CECO) Shares Bought by SG Capital Management LLC

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.

Career Education (NASDAQ:CECO) last announced its quarterly earnings data on Wednesday, February 20th. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Career Education had a return on equity of 19.78% and a net margin of 9.49%. The firm had revenue of $145.50 million during the quarter, compared to the consensus estimate of $144.63 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts anticipate that Career Education Corp. will post 1.13 EPS for the current year.

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.

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

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