C M Bidwell & Associates Ltd. Takes Position in Strategic Education Inc (STRA)
C M Bidwell & Associates Ltd. acquired a new position in shares of Strategic Education Inc (NASDAQ:STRA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 945 shares of the health services provider’s stock, valued at approximately $129,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Strategic Education by 113.8% during the 3rd quarter. BlackRock Inc. now owns 3,154,624 shares of the health services provider’s stock worth $432,280,000 after purchasing an additional 1,679,027 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Strategic Education by 89.1% in the third quarter. Dimensional Fund Advisors LP now owns 841,722 shares of the health services provider’s stock valued at $115,340,000 after acquiring an additional 396,684 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Strategic Education by 314,542.5% in the third quarter. Royce & Associates LP now owns 459,378 shares of the health services provider’s stock valued at $62,949,000 after acquiring an additional 459,232 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Strategic Education by 100.1% in the third quarter. Bank of New York Mellon Corp now owns 354,648 shares of the health services provider’s stock valued at $48,597,000 after acquiring an additional 177,410 shares in the last quarter. Finally, ValueAct Holdings L.P. bought a new position in shares of Strategic Education in the second quarter valued at approximately $21,862,000. 91.71% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Robert R. Grusky sold 507 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $144.05, for a total value of $73,033.35. Following the transaction, the director now owns 12,567 shares in the company, valued at $1,810,276.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider J Kevin Gilligan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $134.62, for a total value of $673,100.00. Following the completion of the transaction, the insider now owns 111,494 shares in the company, valued at approximately $15,009,322.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,850 shares of company stock worth $7,773,495. 3.70% of the stock is owned by company insiders.
Strategic Education (NASDAQ:STRA) last released its earnings results on Thursday, November 8th. The health services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.24. The company had revenue of $160.90 million during the quarter, compared to analyst estimates of $185.48 million. Strategic Education had a positive return on equity of 10.30% and a negative net margin of 8.74%. Strategic Education’s quarterly revenue was up 48.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, analysts anticipate that Strategic Education Inc will post 4.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $2.00 annualized dividend and a yield of 1.55%. Strategic Education’s payout ratio is 64.31%.
Several equities analysts have recently issued reports on the company. ValuEngine raised Strategic Education from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. BidaskClub lowered Strategic Education from a “buy” rating to a “hold” rating in a report on Saturday, November 17th. BMO Capital Markets upped their target price on Strategic Education to $158.00 and gave the company an “outperform” rating in a report on Monday, November 12th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $175.00 target price on shares of Strategic Education in a report on Thursday, September 27th. Finally, Zacks Investment Research raised Strategic Education from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $148.60.
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About Strategic Education
Strategic Education, Inc, through its subsidiaries, provides a range of post-secondary education and other academic programs in the United States. The company operates Strayer University and Capella University that provide undergraduate and graduate degree programs in business administration, accounting, information technology, education, health services administration, nursing, public administration, and criminal justice to working adult students through its 74 physical campuses primarily located in the Mid-Atlantic and Southern regions, as well as through online.
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