Zovio (NASDAQ:ZVO – Get a Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.
According to Zacks, “Zovio Inc. is an education technology services company that partners with higher education institutions and employers to provide innovative, personalized solutions to help learners and leaders achieve their aspirations. Zovio Inc., formerly known as Bridgepoint Education Inc., is based in San Diego, USA. “
ZVO stock opened at $0.81 on Friday. Zovio has a 52-week low of $0.66 and a 52-week high of $3.10. The stock has a market capitalization of $27.71 million, a price-earnings ratio of -0.67 and a beta of 1.06. The stock’s fifty-day simple moving average is $0.76 and its 200-day simple moving average is $1.05.
Zovio (NASDAQ:ZVO – Get Rating) last released its results on Tuesday, May 10. The company reported ($0.14) earnings per share for the quarter. Zovio had a negative net margin of 16.26% and a negative return on equity of 57.96%. The company had revenue of $61.63 million in the quarter. As a group, sell-side analysts expect Zovio to post -0.27 EPS for the current year.
A number of institutional investors have recently changed their positions in the stock. Royce & Associates LP increased its stake in Zovio by 2.1% in the first quarter. Royce & Associates LP now owns 2,447,476 shares of the company valued at $2,007,000 after acquiring an additional 50,000 shares during the period. Heartland Advisors Inc. increased its position in Zovio shares by 3.5% during the first quarter. Heartland Advisors Inc. now owns 1,866,802 shares of the company worth $1,531,000 after purchasing an additional 62,700 shares during the period. Brown Brothers Harriman & Co. acquired a new stock position in Zovio during the first quarter worth approximately $966,000. HighTower Advisors LLC increased its position in Zovio shares by 64.2% during the first quarter. HighTower Advisors LLC now owns 454,815 shares of the company worth $374,000 after purchasing an additional 177,800 shares during the period. Finally, BlackRock Inc. increased its stake in Zovio by 21.7% during the third quarter. BlackRock Inc. now owns 383,264 shares of the company worth $916,000 after purchasing an additional 68,226 shares last quarter. 53.02% of the shares are held by hedge funds and other institutional investors.
About Zovia (Get a rating)
Zovio Inc operates as an educational technology services company in the United States. It partners with higher education institutions and employers to offer a variety of customized solutions to help learners and leaders achieve their aspirations. The Company offers technology and academic services primarily related to educational infrastructure, including online course delivery and management, assessment, customer relationship management, and other internal administrative systems; support services for the development of curricula and new programs, and for the training and development of faculty; and state-compliant technical support and support services.
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