Convergence Investment Partners LLC Makes New Investment


Career Education Log Convergence Investment Partners LLC acquired a new stake in Career Education Corp. (NASDAQ: CECO) in the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor received 11,796 shares of the company’s inventory, valued at about $225,000.

Convergence Investment Partners LLC Makes New Investment 1

Several other hedge budgets have also lately changed their positions in CECO. SG Capital Management LLC grew its holdings in Career Education by 37.7% for the first quarter. SG Capital Management LLC now owns 1,447,860 shares of the organization’s stock worth $23,919,000 after obtaining an extra 396,658 shares. FMR LLC boosted its function in Career Education by 16.3% at some stage in the fourth quarter. FMR LLC now owns 2,752,020 stocks of the enterprise’s inventory well worth $31,428,000 after shopping an additional 385,087 stocks within the closing zone. Acadian Asset Management LLC bought a brand new function in Career Education throughout the first area worth approximately $2,019,000. Deutsche Bank AG boosted its function in Career Education through forty-four. 3% during the fourth region. Deutsche Bank AG now owns 301,083 of the enterprise’s inventory, worth $3,435,000, after purchasing an extra ninety-two,482 stocks in the final sector. Finally, Geode Capital Management LLC lifted its role in Career Education stocks via 10.Nine within the fourth area. Geode Capital Management LLC now owns 803,253 shares of the corporation’s stock worth $9,173,000 after obtaining 79,206 shares inside the remaining area. 85. Seventy-two % of the inventory is owned via institutional traders and hedge funds.

Career Education Corp. NASDAQ: CECO opened at $22.08 on Monday. Has three hundred and sixty-five days low of $eleven.01 and three hundred and sixty-five days excessive of $22.26. The company has a debt-to-equity ratio of 0.11, a short ratio of two: forty-nine, and a cutting-edge ratio of 2.50. The inventory has a market cap of $1.Fifty-three billion, a PE ratio of 21.03, a P/E/G ratio of one.20, and a beta of 1. Fifty-six. The inventory has a 50-day moving, a common price of $19.76, and a 200-day shifting average charge of $17.87.

Career Education (NASDAQ: CECO) finally posted its quarterly profits effects on Wednesday, August 7. The company pronounced $0.39 EPS for the area, beating the consensus estimate of $0.29 by using $0.10. Career Education had a go-back on equity of 25.42% and a net margin of 8.78%. The firm had revenue of $156.44 million throughout the zone compared to analysts’ expectancies of $148.10 million. During the last year’s ein qual sect year, the company earned $0.23 per share. The commercial enterprise’s sales for the area turned up 10.1% on a yr-over-yr foundation. As a set, analysts are expecting that Career Education Corp. We will post 1.22 earnings according to the share for the cutting-edge economic year.

Several studies have lately shown that corporations have weighed in on CECO. Zacks Investment Research downgraded Career Education from a “purchase” score to a “hold” score in a studies document on Tuesday, July 30. TheStreet downgraded Career Education from a “b” rating to a “C+” score in a research file on Thursday, August 8. Sidoti set a $24.00 charge goal on Career Education and gave the business enterprise a “purchase” score in a document on Friday, June 7. BidaskClub raised Career Education from a “promote” rating to a “maintain” rating in a record on Saturday. Finally, Barrington Research reaffirmed an “outperform” score and issued a $26.00 charge goal (up from $24.00) on shares of Career Education in a file on Thursday, August 8. Two equities research analysts have rated the inventory with a preserve score, and three have issued a buy rating to the enterprise’s stock. Career Education presently has a consensus rating of “Buy” and a consensus rate goal of $24.00.

In other Career Education information, insider Michele A. Peppers sold five 000 shares of the firm’s inventory on Thursday, August 15. The stock becomes bought at a mean fee of $21.Fifty-six, for a total transaction of $107,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which will be on the SEC internet site. Also, SVP John Robert Kline sold four 789 stock of the firm in a transaction on Tuesday, July 23. The stock was offered at a mean rate of $19.63 for a full price of $94,008.07. Following the sale, the senior vice chairman immediately owned a hundred and seventy 999 stocks of the organization’s inventory, valued at about $three 356,710.37. The disclosure for this sale can be discovered here. In the closing three months, insiders have bought 25,067 shares of company stock valued at $527,382. Five.58% of the inventory is owned through insiders.