Career Education Sees Unusually Large Options Volume (CECO)

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Career Education Corp. (NASDAQ:CECO) saw unusually large options trading activity on Tuesday. Investors bought 1,000 put options on the stock. This represents an increase of 1,182% compared to the average daily volume of 78 put options.

NASDAQ CECO opened at $13.61 on Wednesday. The company has a market capitalization of $940.38 million, a PE ratio of 43.90, a P/E/G ratio of 0.98 and a beta of 1.75. Career Education has a 52-week low of $11.01 and a 52-week high of $19.07.

In other Career Education news, SVP Jeffrey David Ayers sold 10,918 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $12.79, for a total value of $139,641.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew Hurst sold 16,531 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $14.00, for a total transaction of $231,434.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,352 shares of company stock valued at $512,814. Corporate insiders own 5.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC lifted its position in shares of Career Education by 373.0% in the fourth quarter. LS Investment Advisors LLC now owns 9,371 shares of the company’s stock worth $107,000 after purchasing an additional 7,390 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Career Education in the third quarter worth approximately $155,000. Trexquant Investment LP purchased a new stake in shares of Career Education in the third quarter worth approximately $193,000. First Quadrant L P CA lifted its position in shares of Career Education by 171.1% in the third quarter. First Quadrant L P CA now owns 14,009 shares of the company’s stock worth $209,000 after purchasing an additional 8,841 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of Career Education by 33.0% in the third quarter. Wedge Capital Management L L P NC now owns 15,703 shares of the company’s stock worth $234,000 after purchasing an additional 3,897 shares in the last quarter. 82.12% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on CECO shares. ValuEngine lowered shares of Career Education from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Zacks Investment Research lowered shares of Career Education from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Barrington Research started coverage on shares of Career Education in a research report on Monday, December 3rd. They issued an “outperform” rating and a $18.00 price target for the company. Finally, BidaskClub raised shares of Career Education from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.25.

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About Career Education

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.

Further Reading: Return on Equity (ROE)

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