Career Education Corporation (CECO) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in Career Education Corporation (NASDAQ:CECO) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,889 shares of the company’s stock after selling 11,800 shares during the quarter. California State Teachers Retirement System owned 0.17% of Career Education Corporation worth $1,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CECO. Frontier Capital Management Co. LLC increased its position in shares of Career Education Corporation by 0.4% during the second quarter. Frontier Capital Management Co. LLC now owns 6,874,484 shares of the company’s stock worth $65,995,000 after acquiring an additional 27,892 shares during the period. Vanguard Group Inc. increased its position in shares of Career Education Corporation by 4.1% during the second quarter. Vanguard Group Inc. now owns 3,359,052 shares of the company’s stock worth $32,247,000 after acquiring an additional 132,037 shares during the period. Mangrove Partners increased its position in shares of Career Education Corporation by 20.2% during the second quarter. Mangrove Partners now owns 1,907,687 shares of the company’s stock worth $18,314,000 after acquiring an additional 320,464 shares during the period. State Street Corp increased its position in shares of Career Education Corporation by 1.9% during the second quarter. State Street Corp now owns 1,634,786 shares of the company’s stock worth $15,693,000 after acquiring an additional 30,668 shares during the period. Finally, Lonestar Capital Management LLC increased its position in shares of Career Education Corporation by 127.4% during the second quarter. Lonestar Capital Management LLC now owns 828,806 shares of the company’s stock worth $7,957,000 after acquiring an additional 464,290 shares during the period. 74.10% of the stock is currently owned by institutional investors.

In related news, SVP John Robert Kline sold 2,700 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $12.12, for a total transaction of $32,724.00. Following the completion of the transaction, the senior vice president now owns 96,718 shares in the company, valued at $1,172,222.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew Hurst sold 3,889 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $12.81, for a total transaction of $49,818.09. The disclosure for this sale can be found here. Insiders own 5.01% of the company’s stock.

Shares of Career Education Corporation (NASDAQ:CECO) opened at $13.13 on Friday. Career Education Corporation has a 12-month low of $7.62 and a 12-month high of $13.23. The firm has a market capitalization of $907.20, a price-to-earnings ratio of 54.71 and a beta of 2.66.

Career Education Corporation (NASDAQ:CECO) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $145.00 million for the quarter, compared to analyst estimates of $149.10 million. Career Education Corporation had a positive return on equity of 4.99% and a negative net margin of 3.35%. The company’s revenue was down 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. analysts predict that Career Education Corporation will post 0.18 earnings per share for the current fiscal year.

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Separately, BidaskClub lowered Career Education Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st.

About Career Education Corporation

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

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