Career Education Corp. (CECO) Position Reduced by Morgan Stanley

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Morgan Stanley lowered its position in Career Education Corp. (NASDAQ:CECO) by 19.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,864 shares of the company’s stock after selling 29,823 shares during the period. Morgan Stanley owned about 0.18% of Career Education worth $1,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in Career Education in the third quarter valued at about $155,000. Trexquant Investment LP purchased a new position in Career Education in the third quarter valued at about $193,000. Russell Investments Group Ltd. increased its holdings in Career Education by 300.4% in the third quarter. Russell Investments Group Ltd. now owns 27,408 shares of the company’s stock valued at $398,000 after buying an additional 20,562 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in Career Education in the third quarter valued at about $558,000. Finally, MetLife Investment Advisors LLC increased its holdings in Career Education by 50.6% in the third quarter. MetLife Investment Advisors LLC now owns 46,908 shares of the company’s stock valued at $700,000 after buying an additional 15,758 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.

CECO has been the subject of a number of research analyst reports. Barrington Research assumed coverage on shares of Career Education in a report on Monday, December 3rd. They issued an “outperform” rating and a $18.00 target price for the company. Zacks Investment Research cut shares of Career Education from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $19.13.

Shares of CECO opened at $16.32 on Friday. Career Education Corp. has a 1-year low of $11.01 and a 1-year high of $19.07. The company has a market cap of $1.14 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.14 and a beta of 1.68.

Career Education (NASDAQ:CECO) last issued its quarterly earnings data on Wednesday, February 20th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. Career Education had a net margin of 9.49% and a return on equity of 19.78%. The business had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $144.63 million. During the same period last year, the company posted $0.19 EPS. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that Career Education Corp. will post 1.14 earnings per share for the current year.

In other news, SVP John Robert Kline sold 4,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $15.20, for a total transaction of $71,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffrey David Ayers sold 10,903 shares of the firm’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $13.00, for a total transaction of $141,739.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,521 shares of company stock valued at $352,820. Corporate insiders own 5.70% of the company’s stock.

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Career Education Company 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.

See Also: Fundamental Analysis – How It Helps Investors

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

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