Career Education Corp. (NASDAQ:CECO) SVP Jeffrey David Ayers sold 39,141 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $13.89, for a total transaction of $543,668.49. Following the sale, the senior vice president now directly owns 196,472 shares in the company, valued at approximately $2,728,996.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Career Education Corp. (NASDAQ CECO) traded up $0.02 during midday trading on Monday, hitting $14.10. 255,818 shares of the stock traded hands, compared to its average volume of 262,464. The company has a market cap of $973.18, a price-to-earnings ratio of -30.30 and a beta of 2.56. Career Education Corp. has a one year low of $7.76 and a one year high of $14.33.
Career Education (NASDAQ:CECO) last issued its earnings results on Wednesday, February 21st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. The company had revenue of $143.12 million for the quarter, compared to analyst estimates of $141.30 million. Career Education had a negative net margin of 5.35% and a positive return on equity of 6.73%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.44) EPS. analysts predict that Career Education Corp. will post 0.9 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Career Education by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,795 shares of the company’s stock valued at $526,000 after purchasing an additional 2,266 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Career Education by 11.2% in the 2nd quarter. Voya Investment Management LLC now owns 34,348 shares of the company’s stock valued at $330,000 after purchasing an additional 3,450 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Career Education by 17.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 35,862 shares of the company’s stock valued at $433,000 after purchasing an additional 5,300 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Career Education by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 24,350 shares of the company’s stock valued at $253,000 after purchasing an additional 9,020 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Career Education in the 4th quarter valued at about $125,000. 77.41% of the stock is currently owned by institutional investors.
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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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