Career Education (NASDAQ:CECO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Shares of Career Education (NASDAQ CECO) traded down $0.21 on Friday, hitting $12.23. 134,300 shares of the company were exchanged, compared to its average volume of 290,061. Career Education has a 12-month low of $7.62 and a 12-month high of $13.92. The stock has a market capitalization of $859.52, a price-to-earnings ratio of -50.96 and a beta of 2.70.

Career Education (NASDAQ:CECO) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. Career Education had a negative net margin of 3.35% and a positive return on equity of 4.99%. The firm had revenue of $145.00 million during the quarter, compared to analyst estimates of $149.10 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Career Education’s quarterly revenue was down 13.5% on a year-over-year basis. sell-side analysts expect that Career Education will post 0.18 EPS for the current fiscal year.

In related news, SVP Andrew Hurst sold 3,889 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $12.81, for a total value of $49,818.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John Robert Kline sold 2,700 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $12.12, for a total transaction of $32,724.00. Following the completion of the sale, the senior vice president now directly owns 96,718 shares of the company’s stock, valued at approximately $1,172,222.16. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC grew its holdings in shares of Career Education by 0.4% in the third quarter. Frontier Capital Management Co. LLC now owns 6,900,815 shares of the company’s stock valued at $71,699,000 after purchasing an additional 26,331 shares during the period. Vanguard Group Inc. boosted its stake in Career Education by 4.1% during the second quarter. Vanguard Group Inc. now owns 3,359,052 shares of the company’s stock worth $32,247,000 after buying an additional 132,037 shares during the period. Mangrove Partners boosted its stake in Career Education by 32.4% during the third quarter. Mangrove Partners now owns 2,526,019 shares of the company’s stock worth $26,245,000 after buying an additional 618,332 shares during the period. State Street Corp boosted its stake in Career Education by 1.9% during the second quarter. State Street Corp now owns 1,634,786 shares of the company’s stock worth $15,693,000 after buying an additional 30,668 shares during the period. Finally, Lonestar Capital Management LLC boosted its stake in Career Education by 127.4% during the second quarter. Lonestar Capital Management LLC now owns 828,806 shares of the company’s stock worth $7,957,000 after buying an additional 464,290 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

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About Career Education

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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