Career Education Corp. (CECO) Short Interest Down 26.1% in February

Career Education Corp. (NASDAQ:CECO) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 848,108 shares, a drop of 26.1% from the February 15th total of 1,148,041 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average trading volume of 596,003 shares, the days-to-cover ratio is presently 1.4 days.

In other Career Education news, SVP John Robert Kline sold 4,700 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $15.20, for a total transaction of $71,440.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jeffrey David Ayers sold 10,903 shares of the firm’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $13.00, for a total transaction of $141,739.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,521 shares of company stock worth $352,820 over the last quarter. 5.70% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. American Century Companies Inc. purchased a new stake in shares of Career Education in the fourth quarter valued at about $411,000. Geode Capital Management LLC boosted its holdings in shares of Career Education by 10.9% in the fourth quarter. Geode Capital Management LLC now owns 803,253 shares of the company’s stock valued at $9,173,000 after acquiring an additional 79,206 shares in the last quarter. FMR LLC boosted its holdings in shares of Career Education by 16.3% in the fourth quarter. FMR LLC now owns 2,752,020 shares of the company’s stock valued at $31,428,000 after acquiring an additional 385,087 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Career Education in the fourth quarter valued at about $125,000. Finally, Legal & General Group Plc boosted its holdings in shares of Career Education by 1.0% in the fourth quarter. Legal & General Group Plc now owns 150,253 shares of the company’s stock valued at $1,720,000 after acquiring an additional 1,522 shares in the last quarter. 80.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of Career Education stock opened at $16.54 on Friday. Career Education has a 1 year low of $11.01 and a 1 year high of $19.07. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.14 and a beta of 1.68.

Career Education (NASDAQ:CECO) last issued its quarterly earnings data on Wednesday, February 20th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The company had revenue of $145.50 million for the quarter, compared to the consensus estimate of $144.63 million. Career Education had a net margin of 9.49% and a return on equity of 19.78%. Career Education’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS. As a group, equities analysts anticipate that Career Education will post 1.14 earnings per share for the current fiscal year.

Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of Career Education from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, February 6th. ValuEngine raised shares of Career Education from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. BidaskClub raised shares of Career Education from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Finally, Barrington Research assumed coverage on shares of Career Education in a research report on Monday, December 3rd. They set an “outperform” rating and a $18.00 price objective on the stock. 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 a consensus rating of “Buy” and an average price target of $19.13.

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About Career Education

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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