Phoenix Education Partners (NYSE:PXED) Announces Quarterly Earnings Results

Phoenix Education Partners (NYSE:PXED) posted its earnings results on Tuesday. The company reported $1.07 EPS for the quarter, FiscalAI reports. Phoenix Education Partners had a net margin of 8.18% and a return on equity of 60.06%. The firm had revenue of $260.68 million during the quarter.

Phoenix Education Partners Price Performance

Shares of PXED stock traded down $0.41 during midday trading on Tuesday, reaching $23.50. 105,621 shares of the company were exchanged, compared to its average volume of 101,847. Phoenix Education Partners has a 12 month low of $23.15 and a 12 month high of $36.40. The company has a market cap of $846.92 million and a P/E ratio of 10.93. The company’s 50 day moving average price is $26.11 and its two-hundred day moving average price is $28.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.92 and a current ratio of 1.91.

Insider Buying and Selling at Phoenix Education Partners

In other news, insider John Woods sold 19,453 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $25.89, for a total value of $503,638.17. Following the completion of the transaction, the insider directly owned 62,682 shares in the company, valued at $1,622,836.98. This trade represents a 23.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 20,703 shares of company stock valued at $534,904. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Phoenix Education Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Phoenix Education Partners by 48.3% in the second quarter. Wellington Management Group LLP now owns 743,112 shares of the company’s stock valued at $24,411,000 after buying an additional 241,997 shares during the period. BlackRock Inc. bought a new position in Phoenix Education Partners during the second quarter valued at about $12,620,000. Bastion Asset Management Inc. bought a new position in Phoenix Education Partners during the first quarter valued at about $2,085,000. Heartland Advisors Inc. bought a new position in Phoenix Education Partners during the second quarter valued at about $2,398,000. Finally, Curated Wealth Partners LLC acquired a new position in Phoenix Education Partners during the third quarter worth about $1,653,000.

Wall Street Analysts Forecast Growth

PXED has been the subject of several analyst reports. Weiss Ratings downgraded Phoenix Education Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Jefferies Financial Group upgraded Phoenix Education Partners to a “strong-buy” rating in a research report on Wednesday, September 23rd. B. Riley Financial cut their target price on Phoenix Education Partners from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. BMO Capital Markets cut their target price on Phoenix Education Partners from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, October 5th. Finally, Zacks Research upgraded Phoenix Education Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Phoenix Education Partners has an average rating of “Moderate Buy” and a consensus price target of $39.20.

About Phoenix Education Partners

Phoenix Education Partners, Inc is a higher education company focused on serving working adults and other nontraditional students. Through the University of Phoenix, its principal operating institution, the company provides career-oriented undergraduate and graduate degree programs, professional certificates, and other educational offerings.

The University of Phoenix primarily delivers instruction through online learning, with programs designed to offer flexible scheduling for students balancing education with employment and other responsibilities.