Zovio (NASDAQ:ZVO) Lowered to Underperform at Barrington Research

Barrington Research downgraded shares of Zovio (NASDAQ:ZVOGet Rating) from an outperform rating to an underperform rating in a research note issued to investors on Monday, The Fly reports.

Zovio Trading Down 35.0 %

NASDAQ:ZVO opened at $0.67 on Monday. Zovio has a 1 year low of $0.66 and a 1 year high of $2.78. The firm’s fifty day simple moving average is $0.94 and its 200 day simple moving average is $0.94. The firm has a market capitalization of $22.84 million, a PE ratio of -0.55 and a beta of 0.86.

Zovio (NASDAQ:ZVOGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $61.63 million during the quarter. Zovio had a negative return on equity of 57.96% and a negative net margin of 16.26%. As a group, analysts anticipate that Zovio will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Zovio

A number of hedge funds and other institutional investors have recently made changes to their positions in ZVO. Potomac Capital Management Inc. bought a new position in shares of Zovio during the 4th quarter worth about $208,000. Royce & Associates LP lifted its holdings in Zovio by 16.0% during the 4th quarter. Royce & Associates LP now owns 2,397,476 shares of the company’s stock valued at $3,045,000 after purchasing an additional 329,810 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Zovio by 152.3% during the 4th quarter. HighTower Advisors LLC now owns 277,015 shares of the company’s stock valued at $352,000 after purchasing an additional 167,200 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Zovio by 355.5% during the 4th quarter. First Eagle Investment Management LLC now owns 246,662 shares of the company’s stock valued at $313,000 after purchasing an additional 192,514 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. bought a new position in Zovio during the 4th quarter valued at about $191,000. 53.02% of the stock is owned by institutional investors.

About Zovio

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Zovio Inc operates as an education technology services company in the United States. It partners with higher education institutions and employers to deliver various personalized solutions to help learners and leaders in achieving their aspirations. The company offers technology and academic services primarily relate to the educational infrastructure, including online course delivery and management, assessment, customer relations management, and other internal administrative systems; support services for curriculum and new program development, and faculty training and development; and technical support and assistance services with state compliance.

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