Zacks Investment Research Downgrades ZovioInc . (NYSE:ZVO) to Sell

ZovioInc . (NYSE:ZVO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Zovio Inc. is an education technology services company which partners with higher education institutions and employers to deliver innovative, personalized solutions to help learners and leaders achieve their aspirations. Zovio Inc., formerly known as Bridgepoint Education Inc., is based in San Diego, United States. “

Separately, Barrington Research reaffirmed a “buy” rating and issued a $10.00 price target on shares of ZovioInc . in a report on Tuesday, April 28th.

Shares of ZVO traded down $0.05 during trading hours on Friday, reaching $2.88. 180,787 shares of the company traded hands, compared to its average volume of 177,581. ZovioInc . has a 12-month low of $1.08 and a 12-month high of $4.25. The business has a fifty day moving average price of $2.65 and a 200-day moving average price of $1.95.

ZovioInc . (NYSE:ZVO) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $97.87 million for the quarter, compared to analysts’ expectations of $96.50 million.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZVO. RMB Capital Management LLC acquired a new stake in ZovioInc . in the 4th quarter valued at about $44,000. Bank of New York Mellon Corp raised its holdings in ZovioInc . by 131.2% in the 1st quarter. Bank of New York Mellon Corp now owns 47,883 shares of the company’s stock valued at $79,000 after acquiring an additional 27,176 shares during the last quarter. Prescott Group Capital Management L.L.C. raised its holdings in ZovioInc . by 4.0% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 2,054,337 shares of the company’s stock valued at $3,390,000 after acquiring an additional 79,319 shares during the last quarter. Renaissance Technologies LLC raised its holdings in ZovioInc . by 7.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,869,258 shares of the company’s stock valued at $3,851,000 after acquiring an additional 122,158 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in ZovioInc . in the 1st quarter valued at about $213,000.

ZovioInc . Company Profile

Zovio Inc operates as an education technology services company in the United States. The company provides data management and software to curriculum and financial aid, including enrollment, retention, academic, and tuition for higher education institutions; upskilling courses, degree programs, and certifications for employers; and programs, such as work at your own pace, certificates, micro-badge programs, and college degree programs for learners.

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