Career Education Corp. (CECO) Position Boosted by Arrowstreet Capital Limited Partnership
Arrowstreet Capital Limited Partnership lifted its position in shares of Career Education Corp. (NASDAQ:CECO) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 542,648 shares of the company’s stock after buying an additional 31,728 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Career Education were worth $6,555,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in CECO. Cambria Investment Management L.P. purchased a new position in Career Education during the third quarter worth approximately $113,000. Cubist Systematic Strategies LLC purchased a new position in Career Education during the third quarter worth approximately $126,000. Crossmark Global Holdings Inc. purchased a new position in Career Education during the third quarter worth approximately $133,000. SG Americas Securities LLC purchased a new position in Career Education during the third quarter worth approximately $133,000. Finally, Aperio Group LLC purchased a new position in Career Education during the fourth quarter worth approximately $145,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on CECO. ValuEngine raised shares of Career Education from a “hold” rating to a “buy” rating in a research note on Thursday. BidaskClub raised shares of Career Education from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd.
Career Education (NASDAQ:CECO) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.07. Career Education had a negative net margin of 5.35% and a positive return on equity of 6.73%. The company had revenue of $143.12 million for the quarter, compared to the consensus estimate of $141.30 million. During the same quarter last year, the firm posted ($0.44) earnings per share. Career Education’s revenue was down 7.8% on a year-over-year basis. analysts predict that Career Education Corp. will post 0.81 earnings per share for the current fiscal year.
Career Education Profile
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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