Bleecker Street's Short Position on Perdoceo Education Claims Fraud
Bleecker Street's Allegations: Funds managed by Bleecker Street are short Perdoceo Education Corporation (PRDO), claiming that increased enrollments and retention rates are linked to enrollment fraud by criminal networks, which is a widespread issue in the education sector.
Impact of Fraud on Revenue: The firm estimates that ghost student fraud accounts for approximately 8% of PRDO's revenue and 34% of its operating income, based on industry expert estimates of potential ghost student enrollment.
Other Companies Targeted: In addition to PRDO, Bleecker Street is also short on American Public Education (APEI), Grand Canyon Education (LOPE), and Strategic Education (STRA), as mentioned in their report.
Widespread Issue: The report highlights that enrollment fraud is not an isolated incident but a significant problem affecting multiple companies within the education industry.
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- Earnings Release Schedule: Perdoceo Education Corporation will report its Q4 and full-year 2025 financial results after market close on February 19, 2026, which may influence investor confidence.
- Conference Call Details: The company will host a conference call at 5:00 p.m. Eastern Time that evening to discuss the financial results and 2026 outlook, providing domestic and international dial-in options to ensure broad participation.
- Live Webcast Access: Investors can access the live webcast of the conference call via the Investor Relations section of the company’s website, enhancing transparency and promoting engagement with stakeholders.
- Educational Mission: Perdoceo is committed to delivering quality postsecondary education that meets the needs of today’s busy adults, emphasizing its dedication to career development and industry-relevant programs aimed at closing the workforce qualification gap.
- Price Range Analysis: PRDO's 52-week low is $23.87 per share, with a high of $38.0249, and the last trade at $31.20 indicates volatility within this range, reflecting market caution regarding its future performance.
- Technical Indicator Focus: The stock has fallen below its 200-day moving average, suggesting potential short-term downside risk, prompting investors to closely monitor market reactions to adjust their strategies accordingly.
- Market Sentiment Assessment: The current stock price is approximately 18% lower than its 52-week high, indicating weakened market confidence which may impact its future dividend-paying capacity.
- Investor Considerations: As PRDO's stock price fluctuates, investors should pay attention to changes in its fundamentals and market trends to make informed investment decisions at the right time.
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Upcoming Ex-Dividend Dates: On 11/28/25, Perdoceo Education Corp (PRDO), Cinemark Holdings Inc (CNK), and Brookfield Renewable Partners LP (BEP) will trade ex-dividend, with respective dividends of $0.15, $0.09, and $0.373 payable on 12/12/25 and 12/31/25.
Expected Price Adjustments: Following the ex-dividend date, PRDO shares are expected to open 0.54% lower, CNK by 0.32%, and BEP by 1.32%, based on their recent stock prices.
Dividend Yield Estimates: The estimated annualized yields for the companies are 2.15% for PRDO, 1.29% for CNK, and 5.28% for BEP, indicating potential stability in their dividend payments.
Current Trading Performance: As of Wednesday trading, PRDO shares are up 1.9%, CNK shares are up 0.1%, and BEP shares are flat, reflecting mixed performance in the market.

Market Performance: Oil and gas refining and marketing shares are down approximately 1.1% on Monday, with Comstock and OPAL Fuels leading the decline at 5.9% and 4.2%, respectively.
Sector Laggards: The education and training services sector, along with oil and gas refining and marketing stocks, are identified as laggards in the market on Monday.
Author's Perspective: The views expressed in the article are those of the author and do not necessarily represent the opinions of Nasdaq, Inc.
Video Content: A video segment highlights the sector laggards, specifically focusing on education and training services as well as oil and gas refining and marketing stocks.









