John Robert Kline, Senior Vice President at Perdoceo Education Corp (NASDAQ:PRDO), recently executed a series of stock transactions involving the company's common stock. According to a recent SEC filing, Kline sold a total of 24,148 shares over two days, January 6 and January 7, 2025, for a combined total of approximately $620,016. The sale prices ranged from $25.56 to $25.79 per share. InvestingPro analysis shows PRDO currently trades at $26.38, with the company maintaining impressive gross profit margins of 83.5% and a strong financial health rating.
These transactions were part of a pre-established Rule 10b5-1 trading plan, which Kline adopted on August 5, 2024. The sales were executed in multiple trades, with the weighted average prices reported in the filing. Following these transactions, Kline holds 130,405 shares of Perdoceo stock, including 92,586 unvested restricted stock units. The company's stock has shown strong momentum, delivering a 52% return over the past year, while trading at a moderate P/E ratio of 13.
In addition to the sales, Kline also acquired shares through the exercise of non-qualified stock options. On January 6 and January 7, he exercised options to acquire 12,148 and 12,000 shares, respectively, at a price of $13.8 per share, totaling approximately $333,242. These option exercises were not part of the sales transactions.
Kline's transactions are part of his ongoing management of his holdings in Perdoceo Education, which continues to operate in the educational services sector.
In other recent news, Perdoceo Education Corporation exceeded Q3 expectations, reporting a net income of $38.3 million and adjusted earnings of $0.59 per share. Enrollments at Colorado Technical University and American InterContinental University System saw substantial growth. Moreover, the company announced the impending acquisition of the University of St. Augustine, which is expected to enhance its offerings and contribute positively to operating income from 2025 onwards.
Furthermore, the company declared a quarterly dividend of $0.13 per share. Adjusted operating income for 2024 is anticipated to range between $188 million and $191 million. The company's Q3 effective tax rate stood at 26.9%, with a projected full-year rate of 26% to 27%.
Despite anticipated lower revenue at Colorado Technical University and decreased enrollments at the American InterContinental University System, strong corporate engagement and high student retention rates are expected to offset these challenges. Lastly, the company is closely monitoring regulatory changes from the Department of Education, which may affect future operations.
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