Renaissance Technologies LLC Grows Position in Strategic Education Inc (STRA)

Renaissance Technologies LLC increased its holdings in Strategic Education Inc (NASDAQ:STRA) by 655.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 946,321 shares of the health services provider’s stock after acquiring an additional 821,121 shares during the quarter. Renaissance Technologies LLC owned approximately 8.37% of Strategic Education worth $129,674,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. acquired a new position in shares of Strategic Education in the 2nd quarter worth approximately $235,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Strategic Education in the 2nd quarter worth approximately $226,000. Victory Capital Management Inc. boosted its holdings in shares of Strategic Education by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 3,491 shares of the health services provider’s stock worth $395,000 after acquiring an additional 480 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Strategic Education in the 2nd quarter worth approximately $257,000. Finally, Rhumbline Advisers boosted its holdings in shares of Strategic Education by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 25,726 shares of the health services provider’s stock worth $2,907,000 after acquiring an additional 798 shares in the last quarter. 91.71% of the stock is owned by institutional investors.

STRA stock opened at $119.59 on Friday. Strategic Education Inc has a fifty-two week low of $80.75 and a fifty-two week high of $154.89. The company has a market capitalization of $2.72 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.20 and a beta of 1.09.

Strategic Education (NASDAQ:STRA) last posted its quarterly earnings data on Thursday, November 8th. The health services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.24. Strategic Education had a negative net margin of 8.74% and a positive return on equity of 10.30%. The firm had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $185.48 million. During the same quarter in the previous year, the company posted $0.34 EPS. Strategic Education’s revenue was up 48.3% on a year-over-year basis. On average, analysts expect that Strategic Education Inc will post 4.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, November 30th. Strategic Education’s dividend payout ratio (DPR) is presently 64.31%.

In related news, insider J Kevin Gilligan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $134.62, for a total value of $673,100.00. Following the completion of the transaction, the insider now owns 111,494 shares in the company, valued at approximately $15,009,322.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert R. Grusky sold 507 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $144.05, for a total transaction of $73,033.35. Following the completion of the transaction, the director now owns 12,567 shares of the company’s stock, valued at approximately $1,810,276.35. The disclosure for this sale can be found here. Insiders sold a total of 58,850 shares of company stock valued at $7,773,495 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on the company. ValuEngine raised Strategic Education from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. BidaskClub downgraded Strategic Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Zacks Investment Research raised Strategic Education from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. BMO Capital Markets boosted their target price on Strategic Education to $152.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Finally, Barrington Research assumed coverage on Strategic Education in a report on Tuesday, August 21st. They issued an “outperform” rating and a $160.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Strategic Education presently has an average rating of “Buy” and an average price target of $148.60.

WARNING: “Renaissance Technologies LLC Grows Position in Strategic Education Inc (STRA)” was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this article can be read at https://www.chaffeybreeze.com/2018/12/08/renaissance-technologies-llc-grows-position-in-strategic-education-inc-stra.html.

About Strategic Education

Strategic Education, Inc, through its subsidiaries, provides a range of post-secondary education and other academic programs in the United States. The company operates Strayer University and Capella University that provide undergraduate and graduate degree programs in business administration, accounting, information technology, education, health services administration, nursing, public administration, and criminal justice to working adult students through its 74 physical campuses primarily located in the Mid-Atlantic and Southern regions, as well as through online.

Recommended Story: Marijuana Stocks

Want to see what other hedge funds are holding STRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Strategic Education Inc (NASDAQ:STRA).

Institutional Ownership by Quarter for Strategic Education (NASDAQ:STRA)

Receive News & Ratings for Strategic Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Strategic Education and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply