AlphaCrest Capital Management LLC Boosts Position in Strategic Education, Inc. (NASDAQ:STRA)

Posted by Defense World Staff on Mar 8th, 2023

AlphaCrest Capital Management LLC raised its stake in Strategic Education, Inc. (NASDAQ:STRA – Get Rating) by 36.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,283 shares of the health services provider’s stock after purchasing an additional 3,030 shares during the period. AlphaCrest Capital Management LLC’s holdings in Strategic Education were worth $693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Strategic Education by 3.2% during the third quarter. Royal Bank of Canada now owns 421,074 shares of the health services provider’s stock worth $25,858,000 after purchasing an additional 12,888 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Strategic Education during the 3rd quarter worth $107,000. Cubist Systematic Strategies LLC increased its stake in Strategic Education by 23.6% in the third quarter. Cubist Systematic Strategies LLC now owns 12,003 shares of the health services provider’s stock valued at $737,000 after purchasing an additional 2,290 shares during the period. Ergoteles LLC acquired a new position in Strategic Education in the third quarter valued at $458,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Strategic Education by 9.1% in the third quarter. Envestnet Asset Management Inc. now owns 118,102 shares of the health services provider’s stock valued at $7,253,000 after buying an additional 9,809 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on STRA shares. StockNews.com cut Strategic Education from a “buy” rating to a “hold” rating in a research report on Thursday, February 23rd. TheStreet upgraded Strategic Education from a “c” rating to a “b-” rating in a research note on Wednesday, February 1st. Truist Financial lifted their price objective on shares of Strategic Education from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, February 24th. BMO Capital Markets upped their price objective on shares of Strategic Education from $82.00 to $88.00 in a research report on Friday, November 11th. Finally, Barrington Research raised their target price on shares of Strategic Education from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.33.

Strategic Education Stock Up 2.9 %

Strategic Education stock opened at $85.25 on Wednesday. The stock’s 50 day moving average price is $88.65 and its 200 day moving average price is $77.15. Strategic Education, Inc. has a 1-year low of $56.21 and a 1-year high of $98.22. The company has a market cap of $2.08 billion, a PE ratio of 43.94, a price-to-earnings-growth ratio of 1.72 and a beta of 0.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.57 and a quick ratio of 1.57.

Strategic Education (NASDAQ:STRA – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The health services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.15). Strategic Education had a return on equity of 3.65% and a net margin of 4.38%. The company had revenue of $269.90 million for the quarter, compared to analyst estimates of $271.68 million. During the same period last year, the company earned $1.15 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts predict that Strategic Education, Inc. will post 3.21 EPS for the current fiscal year.

Strategic Education Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 13th. Stockholders of record on Monday, March 6th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.82%. Strategic Education’s payout ratio is 123.71%.

Strategic Education Profile

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Strategic Education, Inc engages in the provision of educational services. It operates through the following segments: Strayer University, Capella University, and Non-Degree Programs. The Strayer University segment includes programs offered through the Jack Welch Management Institute. The company was founded in 1892 and is headquartered in Herndon, VA.