Career Education Corp. (CECO) : Akanthos Capital Management reduced its stake in Career Education Corp. by 35.79% during the most recent quarter end. The investment management company now holds a total of 1,316,400 shares of Career Education Corp. which is valued at $7.3 Million after selling 733,600 shares in Career Education Corp. , the firm said in a disclosure report filed with the SEC on May 11, 2016.Career Education Corp. makes up approximately 27.29% of Akanthos Capital Management’s portfolio.
Other Hedge Funds, Including , Menta Capital reduced its stake in CECO by selling 12,441 shares or 11.55% in the most recent quarter. The Hedge Fund company now holds 95,303 shares of CECO which is valued at $531,791. Career Education Corp. makes up approx 0.07% of Menta Capital’s portfolio.Schwab Charles Investment Management Inc boosted its stake in CECO in the latest quarter, The investment management firm added 9,118 additional shares and now holds a total of 751,512 shares of Career Education Corp. which is valued at $4.4 Million. Career Education Corp. makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.First Mercantile Trust Co reduced its stake in CECO by selling 3,871 shares or 9.47% in the most recent quarter. The Hedge Fund company now holds 36,999 shares of CECO which is valued at $197,575. Career Education Corp. makes up approx 0.02% of First Mercantile Trust Co’s portfolio. Glenmede Trust Co Na added CECO to its portfolio by purchasing 263 company shares during the most recent quarter which is valued at $1,404.
Career Education Corp. opened for trading at $5.58 and hit $5.8344 on the upside on Monday, eventually ending the session at $5.7, with a gain of 2.15% or 0.12 points. The heightened volatility saw the trading volume jump to 3,79,895 shares. Company has a market cap of $390 M.
On the company’s financial health, Career Education Corp. reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.07. The company had revenue of $198.90 million for the quarter, compared to analysts expectations of $165.14 million. The company’s revenue was down -12.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.37 EPS.
Career Education Corporation (CEC) through its colleges institutions and universities offers education to students in a range of career-oriented disciplines through online on-ground and hybrid learning program offerings. The Company operates through four segments: University Group Career Colleges Group Transitional Group and Corporate and Other. The Company serves students from campuses throughout the United States offering programs that lead to doctoral master’s bachelor’s and associate degrees as well as to diplomas and certificates. The Company’s institutions include both universities that provide degree programs through the master or doctoral level and colleges that provide programs through the associate and bachelor level. The University group includes American InterContinental University (AIU) and Colorado Technical University (CTU) serving students online with career-focused degree programs.