TIAA CREF Investment Management LLC Lowers Position in Career Education Corporation (CECO)
TIAA CREF Investment Management LLC cut its position in shares of Career Education Corporation (NASDAQ:CECO) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477,306 shares of the company’s stock after selling 17,748 shares during the period. TIAA CREF Investment Management LLC owned about 0.69% of Career Education Corporation worth $4,153,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. James Investment Research Inc. acquired a new position in shares of Career Education Corporation during the first quarter worth about $2,857,000. State Street Corp increased its position in shares of Career Education Corporation by 7.7% in the fourth quarter. State Street Corp now owns 1,460,311 shares of the company’s stock worth $14,734,000 after buying an additional 103,996 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Career Education Corporation during the fourth quarter worth about $1,027,000. Teachers Advisors LLC increased its position in shares of Career Education Corporation by 67.6% in the fourth quarter. Teachers Advisors LLC now owns 216,757 shares of the company’s stock worth $2,187,000 after buying an additional 87,454 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Career Education Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 1,107,937 shares of the company’s stock worth $9,639,000 after buying an additional 80,507 shares in the last quarter. 74.70% of the stock is owned by institutional investors.
Shares of Career Education Corporation (NASDAQ CECO) traded down 0.93% on Friday, reaching $8.56. The company had a trading volume of 262,324 shares. The stock’s 50 day moving average is $8.93 and its 200 day moving average is $9.26. The firm’s market capitalization is $591.29 million. Career Education Corporation has a 52 week low of $6.25 and a 52 week high of $12.59.
Career Education Corporation (NASDAQ:CECO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $146.20 million during the quarter, compared to the consensus estimate of $147.80 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was down 19.9% on a year-over-year basis. On average, equities analysts anticipate that Career Education Corporation will post $0.07 EPS for the current year.
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CECO has been the topic of a number of research analyst reports. Piper Jaffray Companies restated a “hold” rating and set a $13.00 price target on shares of Career Education Corporation in a report on Friday, July 21st. BidaskClub downgraded Career Education Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th.
In related news, Director Gregory L. Jackson purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $8.78 per share, with a total value of $87,800.00. Following the completion of the purchase, the director now owns 30,866 shares of the company’s stock, valued at approximately $271,003.48. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.88% of the company’s stock.
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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