Strategic Education Inc (NASDAQ:STRA) Shares Sold by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC decreased its stake in shares of Strategic Education Inc (NASDAQ:STRA) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 505,730 shares of the health services provider’s stock after selling 78,675 shares during the period. Strategic Education accounts for 3.0% of Rice Hall James & Associates LLC’s portfolio, making the stock its largest position. Rice Hall James & Associates LLC owned about 2.31% of Strategic Education worth $90,020,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of STRA. Westfield Capital Management Co. LP acquired a new position in Strategic Education during the first quarter worth approximately $24,416,000. FMR LLC grew its stake in Strategic Education by 694,279.2% during the first quarter. FMR LLC now owns 166,651 shares of the health services provider’s stock worth $21,883,000 after buying an additional 166,627 shares during the period. Victory Capital Management Inc. grew its stake in Strategic Education by 32.3% during the first quarter. Victory Capital Management Inc. now owns 443,660 shares of the health services provider’s stock worth $58,257,000 after buying an additional 108,385 shares during the period. Columbus Circle Investors grew its stake in Strategic Education by 50.0% during the first quarter. Columbus Circle Investors now owns 254,441 shares of the health services provider’s stock worth $33,411,000 after buying an additional 84,834 shares during the period. Finally, OppenheimerFunds Inc. grew its stake in Strategic Education by 27.7% during the first quarter. OppenheimerFunds Inc. now owns 246,696 shares of the health services provider’s stock worth $32,393,000 after buying an additional 53,533 shares during the period. 94.98% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on STRA shares. First Analysis reiterated a “strong-buy” rating and set a $216.00 price objective (up from $210.00) on shares of Strategic Education in a research note on Friday, June 28th. BidaskClub downgraded shares of Strategic Education from a “hold” rating to a “sell” rating in a research note on Wednesday. BMO Capital Markets increased their price objective on shares of Strategic Education from $180.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. Zacks Investment Research downgraded shares of Strategic Education from a “buy” rating to a “hold” rating and set a $154.00 price objective on the stock. in a research note on Monday, July 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $210.00 price objective (up from $185.00) on shares of Strategic Education in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $189.80.
Strategic Education (NASDAQ:STRA) last issued its earnings results on Wednesday, July 31st. The health services provider reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.12. The company had revenue of $245.10 million for the quarter, compared to analysts’ expectations of $240.79 million. Strategic Education had a net margin of 0.62% and a return on equity of 8.65%. The firm’s revenue was up 113.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. Sell-side analysts forecast that Strategic Education Inc will post 6.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. Strategic Education’s dividend payout ratio (DPR) is 42.11%.
In related news, Director Todd A. Milano sold 6,449 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.47, for a total value of $1,163,851.03. Following the sale, the director now owns 7,543 shares of the company’s stock, valued at approximately $1,361,285.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director G Thomas Waite III sold 3,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $178.59, for a total transaction of $535,770.00. Following the completion of the sale, the director now directly owns 11,951 shares in the company, valued at approximately $2,134,329.09. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.
Strategic Education Profile
Strategic Education, Inc, through its subsidiaries, provides a range of post-secondary education and non-degree programs in the United States. The company operates through three segments: Strayer University, Capella University, and Non-Degree Programs. It operates Strayer University that provides undergraduate and graduate degree programs in business administration, accounting, information technology, education, health services administration, public administration, and criminal justice for working adult students through its 74 physical campuses located in the eastern United States, as well as through online; and an executive MBA online through its Jack Welch Management Institute.
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