First Mercantile Trust Co. Holds Stake in Career Education Corporation (CECO)
First Mercantile Trust Co. maintained its position in Career Education Corporation (NASDAQ:CECO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,979 shares of the company’s stock at the end of the second quarter. First Mercantile Trust Co.’s holdings in Career Education Corporation were worth $288,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Career Education Corporation by 10.6% in the first quarter. Renaissance Technologies LLC now owns 4,727,962 shares of the company’s stock valued at $41,133,000 after buying an additional 453,500 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Career Education Corporation by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,633,871 shares of the company’s stock valued at $40,315,000 after buying an additional 411,878 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Career Education Corporation during the first quarter valued at approximately $2,857,000. Vanguard Group Inc. increased its position in shares of Career Education Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,227,015 shares of the company’s stock valued at $28,074,000 after buying an additional 195,956 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Career Education Corporation by 23.7% in the first quarter. AQR Capital Management LLC now owns 760,656 shares of the company’s stock valued at $6,617,000 after buying an additional 145,503 shares during the last quarter. 74.70% of the stock is owned by institutional investors.
Career Education Corporation (NASDAQ:CECO) opened at 8.56 on Friday. The company has a 50-day moving average of $8.93 and a 200-day moving average of $9.26. Career Education Corporation has a 12 month low of $6.25 and a 12 month high of $12.59. The stock’s market cap is $591.29 million.
Career Education Corporation (NASDAQ:CECO) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. Career Education Corporation had a negative net margin of 3.82% and a positive return on equity of 3.73%. The business had revenue of $146.20 million for the quarter, compared to analysts’ expectations of $147.80 million. During the same period last year, the business earned $0.17 EPS. The company’s revenue was down 19.9% compared to the same quarter last year. On average, equities analysts forecast that Career Education Corporation will post $0.07 EPS for the current fiscal year.
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Several analysts have recently weighed in on the stock. Piper Jaffray Companies restated a “hold” rating and set a $13.00 price objective on shares of Career Education Corporation in a research report on Friday, July 21st. BidaskClub cut shares of Career Education Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th.
In related news, Director Gregory L. Jackson bought 10,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $8.78 per share, for a total transaction of $87,800.00. Following the purchase, the director now directly owns 30,866 shares of the company’s stock, valued at $271,003.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.88% of the stock is owned by company insiders.
Career Education Corporation Company 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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