GSA Capital Partners LLP Acquires 23,194 Shares of Career Education Corp. (NASDAQ:CECO)

GSA Capital Partners LLP grew its holdings in shares of Career Education Corp. (NASDAQ:CECO) by 55.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,766 shares of the company’s stock after buying an additional 23,194 shares during the quarter. GSA Capital Partners LLP owned approximately 0.09% of Career Education worth $1,235,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. bought a new stake in Career Education during the 2nd quarter worth about $80,000. Nkcfo LLC bought a new stake in Career Education during the 2nd quarter worth about $151,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Career Education by 107.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,860 shares of the company’s stock worth $163,000 after buying an additional 5,101 shares in the last quarter. LS Investment Advisors LLC lifted its position in Career Education by 7.9% during the 1st quarter. LS Investment Advisors LLC now owns 10,112 shares of the company’s stock worth $167,000 after buying an additional 741 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new stake in Career Education during the 2nd quarter worth about $208,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Michele A. Peppers sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $21.56, for a total value of $107,800.00. Following the transaction, the insider now owns 66,473 shares in the company, valued at approximately $1,433,157.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP John Robert Kline sold 4,789 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $19.63, for a total transaction of $94,008.07. Following the completion of the transaction, the senior vice president now owns 170,999 shares in the company, valued at approximately $3,356,710.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,067 shares of company stock worth $860,182. 5.58% of the stock is owned by insiders.

Several equities research analysts have commented on the stock. Zacks Investment Research cut shares of Career Education from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barrington Research reissued an “outperform” rating and set a $26.00 price target (up from $24.00) on shares of Career Education in a research report on Thursday, August 8th. BidaskClub raised shares of Career Education from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. TheStreet cut shares of Career Education from a “b” rating to a “c+” rating in a research report on Thursday, August 8th. Finally, Sidoti set a $24.00 price target on shares of Career Education and gave the stock a “buy” rating in a research report on Friday, June 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Career Education currently has an average rating of “Buy” and an average target price of $24.00.

Shares of CECO stock traded down $0.73 on Friday, reaching $21.55. The stock had a trading volume of 233,496 shares, compared to its average volume of 578,401. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average is $20.19 and its two-hundred day moving average is $18.11. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 1.22 and a beta of 1.56. Career Education Corp. has a 12 month low of $11.01 and a 12 month high of $22.50.

Career Education (NASDAQ:CECO) last issued its earnings results on Wednesday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.10. The company had revenue of $156.44 million for the quarter, compared to analysts’ expectations of $148.10 million. Career Education had a net margin of 8.78% and a return on equity of 25.42%. Career Education’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. On average, sell-side analysts forecast that Career Education Corp. will post 1.22 earnings per share for the current fiscal year.

Career Education Company 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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