Valley National Advisers Inc. Has $296,000 Holdings in Career Education Corp. (CECO)

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Valley National Advisers Inc. lessened its position in shares of Career Education Corp. (NASDAQ:CECO) by 19.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 19,832 shares of the company’s stock after selling 4,800 shares during the period. Valley National Advisers Inc.’s holdings in Career Education were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CECO. Prudential Financial Inc. lifted its position in shares of Career Education by 5.9% during the 3rd quarter. Prudential Financial Inc. now owns 120,710 shares of the company’s stock worth $1,802,000 after buying an additional 6,760 shares during the last quarter. Stone Ridge Asset Management LLC lifted its position in shares of Career Education by 13.6% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 52,101 shares of the company’s stock worth $778,000 after buying an additional 6,233 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Career Education during the 3rd quarter worth approximately $881,000. WINTON GROUP Ltd lifted its position in shares of Career Education by 19.9% during the 3rd quarter. WINTON GROUP Ltd now owns 80,604 shares of the company’s stock worth $1,203,000 after buying an additional 13,387 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of Career Education by 33.0% during the 3rd quarter. Wedge Capital Management L L P NC now owns 15,703 shares of the company’s stock worth $234,000 after buying an additional 3,897 shares during the last quarter. Institutional investors own 82.61% of the company’s stock.

In related news, Director Richard D. Wang sold 250,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $15.21, for a total value of $3,802,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Robert Kline sold 4,700 shares of the company’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $15.00, for a total transaction of $70,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,776 shares of company stock valued at $5,630,270. 5.01% of the stock is owned by insiders.

Several analysts have recently weighed in on the stock. BidaskClub downgraded shares of Career Education from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine downgraded shares of Career Education from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Piper Jaffray Companies restated a “hold” rating and set a $19.50 price objective on shares of Career Education in a research report on Thursday, August 2nd. Finally, Zacks Investment Research downgraded shares of Career Education from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.83.

CECO stock traded down $0.03 on Friday, hitting $12.84. The company’s stock had a trading volume of 263 shares, compared to its average volume of 274,002. Career Education Corp. has a 1 year low of $11.38 and a 1 year high of $19.07. The company has a market cap of $902.01 million, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.75.

Career Education (NASDAQ:CECO) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Career Education had a negative net margin of 0.57% and a positive return on equity of 16.59%. The firm had revenue of $146.00 million during the quarter, compared to the consensus estimate of $146.50 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Career Education’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts anticipate that Career Education Corp. will post 0.9 EPS for the current year.

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Career Education Profile

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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Institutional Ownership by Quarter for Career Education (NASDAQ:CECO)

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